https://www.taxtmi.com/caselaws?id=204445 HC upheld the ITAT's deletion of addition on interest earned from fixed deposit receipts used for furnishing a bank guarantee to NHAI. It held that the fixed deposits were not made from surplus idle funds to earn interest but were mandated as a condition precedent for securing and performing the contract. The interest had an inextricable nexus with the project and was therefore capital in nature, not taxable as "income from other sources." Relying on SC and prior HC precedents, the Revenue's challenge was dismissed. en-us Fri, 11 Mar 2011 00:00:00 +0530 Wed, 26 Nov 2025 15:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204445 HC upheld the ITAT's deletion of addition on interest earned from fixed deposit receipts used for furnishing a bank guarantee to NHAI. It held that the fixed deposits were not made from surplus idle funds to earn interest but were mandated as a condition precedent for securing and performing the contract. The interest had an inextricable nexus with the project and was therefore capital in nature, not taxable as "income from other sources." Relying on SC and prior HC precedents, the Revenue's challenge was dismissed. Case-Laws Income Tax Fri, 11 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204445