https://www.taxtmi.com/caselaws?id=193029 The Tribunal allowed the appeal for statistical purposes and remanded the case to the Assessing Officer (AO) for reconsideration based on additional evidence submitted by the assessee. The Tribunal emphasized the need to establish the linkage between the funds and the plant's setup to determine the appropriate tax treatment of the interest income earned. The AO was tasked with deciding whether the funds were used for setting up the plant or its operation, with the directive that if linked to setup, the interest earned should be capitalized against preoperative expenses; otherwise, the original decision would stand. en-us Wed, 16 Mar 2016 00:00:00 +0530 Mon, 10 Jul 2017 11:29:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193029 The Tribunal allowed the appeal for statistical purposes and remanded the case to the Assessing Officer (AO) for reconsideration based on additional evidence submitted by the assessee. The Tribunal emphasized the need to establish the linkage between the funds and the plant's setup to determine the appropriate tax treatment of the interest income earned. The AO was tasked with deciding whether the funds were used for setting up the plant or its operation, with the directive that if linked to setup, the interest earned should be capitalized against preoperative expenses; otherwise, the original decision would stand. Case-Laws Income Tax Wed, 16 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193029