https://www.taxtmi.com/caselaws?id=279605 The Tribunal upheld the decision to tax interest income on Fixed Deposit Receipts received before the commencement of business activities under the head "income from other sources," following the Tuticorin Alkali Chemicals case. The appeal was dismissed, affirming that interest income is taxable when earned, regardless of its utilization, and should be assessed based on legal principles rather than accounting practices. en-us Fri, 06 Jan 2017 00:00:00 +0530 Thu, 28 Mar 2019 06:41:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279605 The Tribunal upheld the decision to tax interest income on Fixed Deposit Receipts received before the commencement of business activities under the head "income from other sources," following the Tuticorin Alkali Chemicals case. The appeal was dismissed, affirming that interest income is taxable when earned, regardless of its utilization, and should be assessed based on legal principles rather than accounting practices. Case-Laws Income Tax Fri, 06 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279605