https://www.taxtmi.com/caselaws?id=378840 The Tribunal dismissed the appeals and stay petitions, holding that interest income earned during the construction period is taxable under 'income from other sources.' The Tribunal denied the set-off of business loss against additions made by the Assessing Officer, stating that as the business had not commenced, no business income or loss could be computed. This decision aligns with the Supreme Court's rulings in Tuticorin Alkali Chemicals & Fertilizers Ltd. and other cases, emphasizing the taxability of interest income from short-term deposits before business commencement. en-us Fri, 15 Mar 2019 00:00:00 +0530 Mon, 22 Apr 2019 17:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378840 The Tribunal dismissed the appeals and stay petitions, holding that interest income earned during the construction period is taxable under 'income from other sources.' The Tribunal denied the set-off of business loss against additions made by the Assessing Officer, stating that as the business had not commenced, no business income or loss could be computed. This decision aligns with the Supreme Court's rulings in Tuticorin Alkali Chemicals & Fertilizers Ltd. and other cases, emphasizing the taxability of interest income from short-term deposits before business commencement. Case-Laws Income Tax Fri, 15 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378840