https://www.taxtmi.com/caselaws?id=63450 The Tribunal upheld the decision of the CIT (Appeals) to exclude interest income from taxable income and adjust it against project cost. The interest earned on surplus funds during the construction period was deemed incidental and offset against interest expenses, following accountancy principles and judicial precedents. The revenue's appeal was dismissed, affirming that interest income should be set off against related expenses, in line with established legal principles. en-us Tue, 27 Apr 1993 00:00:00 +0530 Mon, 31 Jan 2011 10:35:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63450 The Tribunal upheld the decision of the CIT (Appeals) to exclude interest income from taxable income and adjust it against project cost. The interest earned on surplus funds during the construction period was deemed incidental and offset against interest expenses, following accountancy principles and judicial precedents. The revenue's appeal was dismissed, affirming that interest income should be set off against related expenses, in line with established legal principles. Case-Laws Income Tax Tue, 27 Apr 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63450