https://www.taxtmi.com/caselaws?id=355243 Interest earned on fixed deposits linked to an infrastructure development fund was not taxable where a statutory development authority held the funds under government directions and lacked an unfettered right to treat the interest as its own income. The decisive factor was the restricted application of the receipts: the interest was available only in accordance with the governing instructions and had to be used for the specified developmental purpose. On those facts, the interest did not accrue as income of the assessee and was therefore not taxable in its hands. en-us Thu, 25 Jan 2018 00:00:00 +0530 Sat, 10 Feb 2018 20:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355243 Interest earned on fixed deposits linked to an infrastructure development fund was not taxable where a statutory development authority held the funds under government directions and lacked an unfettered right to treat the interest as its own income. The decisive factor was the restricted application of the receipts: the interest was available only in accordance with the governing instructions and had to be used for the specified developmental purpose. On those facts, the interest did not accrue as income of the assessee and was therefore not taxable in its hands. Case-Laws Income Tax Thu, 25 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355243