https://www.taxtmi.com/caselaws?id=373967 The Tribunal dismissed the Revenue's appeal and allowed the assessee's cross-objection. It held that interest income from both State Bank of India (SBI) and IDBI Bank Ltd. should be treated as capital receipts, reducing project development expenditure. The Tribunal also upheld the allowability of netting off interest income against interest expenditure and the deduction of related interest expenses under section 57(iii) of the Income Tax Act. en-us Fri, 18 Jan 2019 00:00:00 +0530 Wed, 23 Jan 2019 07:38:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373967 The Tribunal dismissed the Revenue's appeal and allowed the assessee's cross-objection. It held that interest income from both State Bank of India (SBI) and IDBI Bank Ltd. should be treated as capital receipts, reducing project development expenditure. The Tribunal also upheld the allowability of netting off interest income against interest expenditure and the deduction of related interest expenses under section 57(iii) of the Income Tax Act. Case-Laws Income Tax Fri, 18 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373967