https://www.taxtmi.com/caselaws?id=208467 The case involved an appeal by the Revenue against the disallowance of interest expenses for the assessment year 2007-08. The tribunal held that the interest income received from PFC was capital in nature and not taxable under Section 57 of the Income Tax Act. The interest income and expenditure were linked to the project's setup, leading to the dismissal of the appeal without costs. en-us Fri, 06 Jan 2012 00:00:00 +0530 Mon, 16 Jan 2012 17:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208467 The case involved an appeal by the Revenue against the disallowance of interest expenses for the assessment year 2007-08. The tribunal held that the interest income received from PFC was capital in nature and not taxable under Section 57 of the Income Tax Act. The interest income and expenditure were linked to the project's setup, leading to the dismissal of the appeal without costs. Case-Laws Income Tax Fri, 06 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208467