Income Tax Appeal: CIT(A) Confirms Interest Income Reduction, Reverses Revenue Classification Linked to Project Development. https://www.taxtmi.com/highlights?id=44074 Interest income - Addition u/s 56 - The action of the CIT(A) confirmed, in upholding the action of AO to reduce interest income arising from deposits placed with SBI out of project development expenditure and in reversing the action of the AO in treating the same as revenue income de hors the projects development in progress. en-us Wed, 23 Jan 2019 12:01:38 +0530 Wed, 23 Jan 2019 12:01:38 +0530 TaxTMI RSS Generator Income Tax Appeal: CIT(A) Confirms Interest Income Reduction, Reverses Revenue Classification Linked to Project Development. https://www.taxtmi.com/highlights?id=44074 Interest income - Addition u/s 56 - The action of the CIT(A) confirmed, in upholding the action of AO to reduce interest income arising from deposits placed with SBI out of project development expenditure and in reversing the action of the AO in treating the same as revenue income de hors the projects development in progress. Highlights Income Tax Wed, 23 Jan 2019 12:01:38 +0530 https://www.taxtmi.com/highlights?id=44074