https://www.taxtmi.com/caselaws?id=243112 The Tribunal allowed the appeal of the assessee, determining that the interest received on mobilization advance was not taxable as income but should be credited to the project cost, reducing the overall project expenses. Additionally, the Tribunal instructed the Assessing Officer to grant credit for any pre-paid taxes following verification. This decision aligned with the Supreme Court precedent, classifying the interest income as a capital receipt rather than a revenue receipt, as established in CIT vs. Bokaro Steel Limited. en-us Fri, 02 Aug 2013 00:00:00 +0530 Sat, 25 Jan 2014 18:20:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243112 The Tribunal allowed the appeal of the assessee, determining that the interest received on mobilization advance was not taxable as income but should be credited to the project cost, reducing the overall project expenses. Additionally, the Tribunal instructed the Assessing Officer to grant credit for any pre-paid taxes following verification. This decision aligned with the Supreme Court precedent, classifying the interest income as a capital receipt rather than a revenue receipt, as established in CIT vs. Bokaro Steel Limited. Case-Laws Income Tax Fri, 02 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243112