https://www.taxtmi.com/caselaws?id=261232 The appeal filed by Revenue against the order of Ld. CIT(A) for assessment year 2008-09, concerning the deletion of income earned on Fixed Deposits, was dismissed. The court upheld the decision of the Ld. CIT(A) on the classification of income from fixed deposits and treatment of the forfeited earnest money deposit. The judgment emphasized that the funds were not surplus but essential for the ongoing project, linking the interest income from fixed deposits to the project's setup. The decision was based on established legal precedents, ensuring a fair outcome. en-us Fri, 20 Jun 2014 00:00:00 +0530 Mon, 06 Jul 2015 12:32:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261232 The appeal filed by Revenue against the order of Ld. CIT(A) for assessment year 2008-09, concerning the deletion of income earned on Fixed Deposits, was dismissed. The court upheld the decision of the Ld. CIT(A) on the classification of income from fixed deposits and treatment of the forfeited earnest money deposit. The judgment emphasized that the funds were not surplus but essential for the ongoing project, linking the interest income from fixed deposits to the project's setup. The decision was based on established legal precedents, ensuring a fair outcome. Case-Laws Income Tax Fri, 20 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261232