https://www.taxtmi.com/caselaws?id=196317 The High Court of Kerala dismissed the department's appeal challenging the Income Tax Appellate Tribunal's order on estimating income for tax purposes. The case involved a contract awarded by the Kerala State Electricity Board for a tunnel construction, canceled in 1970, resulting in an award with interest. The court held that interest should be treated as part of the contract receipts for tax purposes, following a Supreme Court precedent. Consequently, the appeal was dismissed, affirming the treatment of interest as part of the contract receipts for taxation. en-us Thu, 31 Jan 2008 00:00:00 +0530 Mon, 27 Nov 2017 15:33:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196317 The High Court of Kerala dismissed the department's appeal challenging the Income Tax Appellate Tribunal's order on estimating income for tax purposes. The case involved a contract awarded by the Kerala State Electricity Board for a tunnel construction, canceled in 1970, resulting in an award with interest. The court held that interest should be treated as part of the contract receipts for tax purposes, following a Supreme Court precedent. Consequently, the appeal was dismissed, affirming the treatment of interest as part of the contract receipts for taxation. Case-Laws Income Tax Thu, 31 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196317