https://www.taxtmi.com/highlights?id=34782 While accepting the fact that the FDR was for obtaining letter of credit to purchase machinery but so far as interest earned thereon is concerned, that is nothing but income through other sources, as such, the CIT rightly treated the same as income taxable. - HC en-us Fri, 12 May 2017 07:37:23 +0530 Fri, 12 May 2017 07:37:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=34782 While accepting the fact that the FDR was for obtaining letter of credit to purchase machinery but so far as interest earned thereon is concerned, that is nothing but income through other sources, as such, the CIT rightly treated the same as income taxable. - HC Highlights Income Tax Fri, 12 May 2017 07:37:23 +0530 https://www.taxtmi.com/highlights?id=34782