https://www.taxtmi.com/caselaws?id=290699 The Tribunal upheld the assessment of interest income of Rs. 62,77,671/- as 'income from other sources', dismissing the assessee's appeal. The income, earned from deposits for construction purposes before the commencement of business, was deemed taxable under relevant case law and commercial principles, following the decision of the CIT(A). The Tribunal's decision, based on legal precedents and factual analysis, affirmed the initial assessment by the Assessing Officer, emphasizing the non-dependence of taxability on income utilization. en-us Wed, 13 Jun 2018 00:00:00 +0530 Sat, 10 Oct 2020 16:26:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290699 The Tribunal upheld the assessment of interest income of Rs. 62,77,671/- as 'income from other sources', dismissing the assessee's appeal. The income, earned from deposits for construction purposes before the commencement of business, was deemed taxable under relevant case law and commercial principles, following the decision of the CIT(A). The Tribunal's decision, based on legal precedents and factual analysis, affirmed the initial assessment by the Assessing Officer, emphasizing the non-dependence of taxability on income utilization. Case-Laws Income Tax Wed, 13 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290699