https://www.taxtmi.com/caselaws?id=20130 The High Court held that interest income on the investment of share capital before business commencement is assessable as "Income from other sources." The Court ruled against the assessee, following precedents that such income is not related to the construction activity and should be taxed accordingly. The Tribunal also allowed deductibility of expenses against the interest income during the pre-operational period, resulting in a nil income computation. en-us Thu, 24 Mar 1994 00:00:00 +0530 Wed, 11 Nov 2009 18:28:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20130 The High Court held that interest income on the investment of share capital before business commencement is assessable as "Income from other sources." The Court ruled against the assessee, following precedents that such income is not related to the construction activity and should be taxed accordingly. The Tribunal also allowed deductibility of expenses against the interest income during the pre-operational period, resulting in a nil income computation. Case-Laws Income Tax Thu, 24 Mar 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20130