https://www.taxtmi.com/caselaws?id=18566 The High Court held that the interest earned on margin money for obtaining a bank guarantee should be set off against the bank commission paid, with only the net amount considered as expenditure. This net expenditure was deemed as capital expenditure and had to be capitalized. The court agreed with the Income-tax Appellate Tribunal that the income from margin money could not be separately assessed under section 56 of the Income-tax Act. The decision favored the Revenue, ruling against the assessee without awarding costs. en-us Tue, 21 Mar 1995 00:00:00 +0530 Thu, 01 Oct 2009 16:27:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18566 The High Court held that the interest earned on margin money for obtaining a bank guarantee should be set off against the bank commission paid, with only the net amount considered as expenditure. This net expenditure was deemed as capital expenditure and had to be capitalized. The court agreed with the Income-tax Appellate Tribunal that the income from margin money could not be separately assessed under section 56 of the Income-tax Act. The decision favored the Revenue, ruling against the assessee without awarding costs. Case-Laws Income Tax Tue, 21 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18566