https://www.taxtmi.com/caselaws?id=346257 The Tribunal held that interest earned on fixed deposits, provided as bank guarantees under the EPCG scheme for importing capital goods, had a direct nexus with business operations. It was considered a capital receipt and should be set off against project costs, not treated as income from other sources. The Tribunal directed the Assessing Officer to delete the addition, allowing the appeal filed by the assessee. en-us Fri, 03 Feb 2017 00:00:00 +0530 Tue, 08 Aug 2017 07:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346257 The Tribunal held that interest earned on fixed deposits, provided as bank guarantees under the EPCG scheme for importing capital goods, had a direct nexus with business operations. It was considered a capital receipt and should be set off against project costs, not treated as income from other sources. The Tribunal directed the Assessing Officer to delete the addition, allowing the appeal filed by the assessee. Case-Laws Income Tax Fri, 03 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346257