https://www.taxtmi.com/caselaws?id=280116 The Tribunal partly allowed the appeals for both assessment years. The interest income from equity funds and bank guarantees was considered a capital receipt to be set off against the project cost, while the interest income from term loan funds was taxable as "income from other sources." The decisions of the Assessing Officer and the Commissioner of Income Tax (Appeals) on the deduction of expenses, levy of interest, and initiation of penalty proceedings were upheld as those issues were not specifically addressed by the Tribunal. en-us Wed, 15 Nov 2017 00:00:00 +0530 Mon, 22 Apr 2019 07:19:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280116 The Tribunal partly allowed the appeals for both assessment years. The interest income from equity funds and bank guarantees was considered a capital receipt to be set off against the project cost, while the interest income from term loan funds was taxable as "income from other sources." The decisions of the Assessing Officer and the Commissioner of Income Tax (Appeals) on the deduction of expenses, levy of interest, and initiation of penalty proceedings were upheld as those issues were not specifically addressed by the Tribunal. Case-Laws Income Tax Wed, 15 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280116