https://www.taxtmi.com/caselaws?id=290792 The ITAT upheld the CIT(A)'s decision to delete the additions made by the AO under Section 56 of the Income Tax Act for the assessment years 2013-2014 and 2014-2015. The interest earned on fixed deposits during the pre-operative period was deemed a capital receipt and set off against pre-operative expenses, not taxable as income from other sources. The Revenue's appeals were dismissed, with the judgment pronounced on 21/10/2019. en-us Mon, 21 Oct 2019 00:00:00 +0530 Fri, 16 Oct 2020 10:51:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290792 The ITAT upheld the CIT(A)'s decision to delete the additions made by the AO under Section 56 of the Income Tax Act for the assessment years 2013-2014 and 2014-2015. The interest earned on fixed deposits during the pre-operative period was deemed a capital receipt and set off against pre-operative expenses, not taxable as income from other sources. The Revenue's appeals were dismissed, with the judgment pronounced on 21/10/2019. Case-Laws Income Tax Mon, 21 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290792