https://www.taxtmi.com/caselaws?id=280074 The Tribunal dismissed the Revenue's appeal and affirmed the CIT(A)'s decision to delete the addition of pre-operative bank interest receipts as taxable income from other sources. The Tribunal held that the Jurisdictional High Court's decision, which deemed interest earned on funds brought for business purposes before business commencement as a capital receipt and not taxable under income from other sources, was binding on all authorities within its jurisdiction. The Tribunal emphasized that this decision must be followed until modified or reversed by the Apex Court. en-us Fri, 26 Apr 2013 00:00:00 +0530 Fri, 19 Apr 2019 10:01:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280074 The Tribunal dismissed the Revenue's appeal and affirmed the CIT(A)'s decision to delete the addition of pre-operative bank interest receipts as taxable income from other sources. The Tribunal held that the Jurisdictional High Court's decision, which deemed interest earned on funds brought for business purposes before business commencement as a capital receipt and not taxable under income from other sources, was binding on all authorities within its jurisdiction. The Tribunal emphasized that this decision must be followed until modified or reversed by the Apex Court. Case-Laws Income Tax Fri, 26 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280074