https://www.taxtmi.com/caselaws?id=2464 The High Court upheld the Tribunal's decision that the interest earned by a State industrial undertaking from investing surplus funds did not constitute income of the undertaking but belonged to the Delhi Administration. The Court found that the funds and interest were not owned by the undertaking, which acted solely as a development agency. The Tribunal's ruling was supported as the undertaking rectified the entries upon the CAG's advice, indicating no income earned. Consequently, the Court dismissed the appeal, finding no substantial question of law for consideration. en-us Fri, 27 Apr 2007 00:00:00 +0530 Tue, 10 Mar 2026 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2464 The High Court upheld the Tribunal's decision that the interest earned by a State industrial undertaking from investing surplus funds did not constitute income of the undertaking but belonged to the Delhi Administration. The Court found that the funds and interest were not owned by the undertaking, which acted solely as a development agency. The Tribunal's ruling was supported as the undertaking rectified the entries upon the CAG's advice, indicating no income earned. Consequently, the Court dismissed the appeal, finding no substantial question of law for consideration. Case-Laws Income Tax Fri, 27 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2464