https://www.taxtmi.com/caselaws?id=396137 The appeal under Section 260-A of the Income Tax Act, 1961, was dismissed by the Supreme Court. The court held that interest income earned from deposits made by the assessee with share application money is taxable under the head income from other sources. Additionally, the court ruled that the interest income could be set off against expenses incurred towards a public issue, rejecting the revenue's argument that the interest earned was of revenue nature while the expenditure was of capital nature. The decision favored the assessee based on the legal precedents cited. en-us Thu, 11 Jun 2020 00:00:00 +0530 Mon, 22 Jun 2020 08:16:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396137 The appeal under Section 260-A of the Income Tax Act, 1961, was dismissed by the Supreme Court. The court held that interest income earned from deposits made by the assessee with share application money is taxable under the head income from other sources. Additionally, the court ruled that the interest income could be set off against expenses incurred towards a public issue, rejecting the revenue's argument that the interest earned was of revenue nature while the expenditure was of capital nature. The decision favored the assessee based on the legal precedents cited. Case-Laws Income Tax Thu, 11 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396137