https://www.taxtmi.com/caselaws?id=369145 Interest earned on temporary bank deposits from share capital funds placed for a coal block project retained a capital character because the funds were received for a specific project, were subject to statutory and administrative constraints, and were not surplus monies available for free commercial use. As the deposits were incidental to the setting up of the project and inextricably linked with land acquisition, clearances and other pre-operative activities, the receipt was treated as adjustible against project cost and pre-operative expenses rather than as independent revenue income. The addition as income from other sources was deleted. en-us Fri, 12 Oct 2018 00:00:00 +0530 Sat, 20 Oct 2018 12:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369145 Interest earned on temporary bank deposits from share capital funds placed for a coal block project retained a capital character because the funds were received for a specific project, were subject to statutory and administrative constraints, and were not surplus monies available for free commercial use. As the deposits were incidental to the setting up of the project and inextricably linked with land acquisition, clearances and other pre-operative activities, the receipt was treated as adjustible against project cost and pre-operative expenses rather than as independent revenue income. The addition as income from other sources was deleted. Case-Laws Income Tax Fri, 12 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369145