https://www.taxtmi.com/caselaws?id=68486 The Tribunal held that the interest earned on Fixed Deposit Receipts (FDRs) was a capital receipt and not taxable income, aligning with Supreme Court decisions. The AO's decision to allow the set off against project cost was deemed correct. Regarding share capital and share application money, the Tribunal found the AO had conducted proper enquiries, and the assessment was not erroneous. The Tribunal concluded that the CIT's revisional order under section 263 of the IT Act was unwarranted, cancelling it. en-us Fri, 28 Mar 2003 00:00:00 +0530 Wed, 30 Mar 2011 16:33:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68486 The Tribunal held that the interest earned on Fixed Deposit Receipts (FDRs) was a capital receipt and not taxable income, aligning with Supreme Court decisions. The AO's decision to allow the set off against project cost was deemed correct. Regarding share capital and share application money, the Tribunal found the AO had conducted proper enquiries, and the assessment was not erroneous. The Tribunal concluded that the CIT's revisional order under section 263 of the IT Act was unwarranted, cancelling it. Case-Laws Income Tax Fri, 28 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68486