Interest from deposits for a new unit is a capital receipt, not taxable, reducing project costs. https://www.taxtmi.com/highlights?id=5843 Interest earned on deposits and advances made for the new unit being established - it would be capital receipt not liable to tax but ultimately be used to reduce the cost of the project. - HC en-us Fri, 19 Oct 2012 13:15:40 +0530 Fri, 19 Oct 2012 13:15:40 +0530 TaxTMI RSS Generator Interest from deposits for a new unit is a capital receipt, not taxable, reducing project costs. https://www.taxtmi.com/highlights?id=5843 Interest earned on deposits and advances made for the new unit being established - it would be capital receipt not liable to tax but ultimately be used to reduce the cost of the project. - HC Highlights Income Tax Fri, 19 Oct 2012 13:15:40 +0530 https://www.taxtmi.com/highlights?id=5843