https://www.taxtmi.com/caselaws?id=343966 The Tribunal upheld the CIT(A)'s decision to tax interest income as "Business Income," disallowing the Revenue's appeal. It allowed depreciation on the toll road, considering the right to collect toll as an intangible asset. The Tribunal ruled in favor of the assessee, deleting the addition of notional interest income, emphasizing the requirement for actual receipt of income. Overall, the Tribunal dismissed the Revenue's appeal on interest income assessment and depreciation disallowance, while allowing the assessee's appeal on notional interest, providing a favorable outcome for the assessee. en-us Fri, 26 May 2017 00:00:00 +0530 Mon, 05 Jun 2017 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343966 The Tribunal upheld the CIT(A)'s decision to tax interest income as "Business Income," disallowing the Revenue's appeal. It allowed depreciation on the toll road, considering the right to collect toll as an intangible asset. The Tribunal ruled in favor of the assessee, deleting the addition of notional interest income, emphasizing the requirement for actual receipt of income. Overall, the Tribunal dismissed the Revenue's appeal on interest income assessment and depreciation disallowance, while allowing the assessee's appeal on notional interest, providing a favorable outcome for the assessee. Case-Laws Income Tax Fri, 26 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343966