https://www.taxtmi.com/caselaws?id=62575 The Tribunal allowed the assessee's appeal, directing the Assessing Officer to adjust the receipt from short-term deposits against the interest payable by the assessee, and to capitalize the excess interest payable. The Tribunal held that the interest income earned on borrowed funds, temporarily deposited, should be adjusted against the interest paid on those borrowings, aligning with the principles laid down in the cited judicial precedents. en-us Thu, 16 Mar 1995 00:00:00 +0530 Thu, 20 Jan 2011 14:31:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62575 The Tribunal allowed the assessee's appeal, directing the Assessing Officer to adjust the receipt from short-term deposits against the interest payable by the assessee, and to capitalize the excess interest payable. The Tribunal held that the interest income earned on borrowed funds, temporarily deposited, should be adjusted against the interest paid on those borrowings, aligning with the principles laid down in the cited judicial precedents. Case-Laws Income Tax Thu, 16 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62575