https://www.taxtmi.com/caselaws?id=270434 The court condoned a delay in re-filing the appeal and allowed the substantive issues to be heard. The primary issue revolved around whether interest income earned on fixed deposits for managing bank guarantees should reduce the cost of capital assets. Relying on relevant judicial precedents, the court held in favor of the assessee, affirming that the interest income should indeed offset the cost of the capital assets. The court dismissed the revenue's appeal, concluding that the interest income earned on fixed deposits during the pre-operative period should be considered in reducing the cost of the capital assets. en-us Fri, 28 Aug 2015 00:00:00 +0530 Wed, 06 Jan 2016 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270434 The court condoned a delay in re-filing the appeal and allowed the substantive issues to be heard. The primary issue revolved around whether interest income earned on fixed deposits for managing bank guarantees should reduce the cost of capital assets. Relying on relevant judicial precedents, the court held in favor of the assessee, affirming that the interest income should indeed offset the cost of the capital assets. The court dismissed the revenue's appeal, concluding that the interest income earned on fixed deposits during the pre-operative period should be considered in reducing the cost of the capital assets. Case-Laws Income Tax Fri, 28 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270434