https://www.taxtmi.com/caselaws?id=355004 The Tribunal ruled in favor of the assessee, holding that the interest income earned on investments made from a loan taken for constructing a Mall-cum-Shopping Complex should not be taxable as income from other sources. The interest income was considered as capital receipts linked to the construction activity, reducing the cost of construction. The Tribunal upheld the decision of the ld. CIT(Appeals) for both assessment years, stating that even if the interest income was taxable, the interest paid to the bank exceeded the interest earned, resulting in no addition to the total income of the assessee. en-us Wed, 25 Oct 2017 00:00:00 +0530 Thu, 08 Feb 2018 07:49:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355004 The Tribunal ruled in favor of the assessee, holding that the interest income earned on investments made from a loan taken for constructing a Mall-cum-Shopping Complex should not be taxable as income from other sources. The interest income was considered as capital receipts linked to the construction activity, reducing the cost of construction. The Tribunal upheld the decision of the ld. CIT(Appeals) for both assessment years, stating that even if the interest income was taxable, the interest paid to the bank exceeded the interest earned, resulting in no addition to the total income of the assessee. Case-Laws Income Tax Wed, 25 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355004