https://www.taxtmi.com/caselaws?id=67464 The tribunal held that the interest amount of Rs. 3,93,925 received on the refund of estate duty was taxable as a revenue receipt in the assessment year 1982-83. The tribunal rejected the assessee's claim that the interest was a capital receipt, based on previous Supreme Court decisions. Additionally, the tribunal determined that the interest income was chargeable to tax in the relevant assessment year based on the cash system of accounting followed by the assessee. The tribunal also upheld the charging of interest under Section 215 of the Income Tax Act, dismissing the appeal. en-us Thu, 15 Feb 1990 00:00:00 +0530 Thu, 10 Mar 2011 17:11:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67464 The tribunal held that the interest amount of Rs. 3,93,925 received on the refund of estate duty was taxable as a revenue receipt in the assessment year 1982-83. The tribunal rejected the assessee's claim that the interest was a capital receipt, based on previous Supreme Court decisions. Additionally, the tribunal determined that the interest income was chargeable to tax in the relevant assessment year based on the cash system of accounting followed by the assessee. The tribunal also upheld the charging of interest under Section 215 of the Income Tax Act, dismissing the appeal. Case-Laws Income Tax Thu, 15 Feb 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67464