https://www.taxtmi.com/caselaws?id=284333 The Tribunal ruled that interest income on margin deposits for obtaining credit facilities for a power plant construction should be treated as capital receipts, not taxable under 'Income From Other Sources'. The decision emphasized the direct link between the interest income and setting up the business apparatus. The judgment highlighted the importance of considering the purpose of fund utilization in determining the character of receipts. The Tribunal upheld the FAA's ruling in favor of the assessee, dismissing the AO's appeals for both assessment years. en-us Fri, 01 Jun 2018 00:00:00 +0530 Tue, 12 Nov 2019 17:48:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284333 The Tribunal ruled that interest income on margin deposits for obtaining credit facilities for a power plant construction should be treated as capital receipts, not taxable under 'Income From Other Sources'. The decision emphasized the direct link between the interest income and setting up the business apparatus. The judgment highlighted the importance of considering the purpose of fund utilization in determining the character of receipts. The Tribunal upheld the FAA's ruling in favor of the assessee, dismissing the AO's appeals for both assessment years. Case-Laws Income Tax Fri, 01 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284333