https://www.taxtmi.com/caselaws?id=267582 The Karnataka High Court held that interest earned on government grants kept in fixed deposits pending utilization should be treated as additional grants under the scheme and not as taxable income under "Income from other sources." The court emphasized the specific directions from the State Government and the inextricable link between the interest earned and the original grant, aligning its decision with the principles established in the Bokaro Steel Ltd. case. The court dismissed the Revenue's appeal, finding no substantial question of law for consideration. en-us Fri, 10 Apr 2015 00:00:00 +0530 Mon, 09 Nov 2015 17:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267582 The Karnataka High Court held that interest earned on government grants kept in fixed deposits pending utilization should be treated as additional grants under the scheme and not as taxable income under "Income from other sources." The court emphasized the specific directions from the State Government and the inextricable link between the interest earned and the original grant, aligning its decision with the principles established in the Bokaro Steel Ltd. case. The court dismissed the Revenue's appeal, finding no substantial question of law for consideration. Case-Laws Income Tax Fri, 10 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267582