https://www.taxtmi.com/caselaws?id=407534 The Tribunal upheld the CIT(A)'s decision to delete additions on account of interest received from banks, advances to contractors, and miscellaneous income from the sale of scrap. The Tribunal determined that these receipts were capital in nature and should be set off against preoperative expenses, following established judicial precedents. The appeal was dismissed, affirming the CIT(A)'s findings. en-us Tue, 11 May 2021 00:00:00 +0530 Thu, 13 May 2021 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407534 The Tribunal upheld the CIT(A)'s decision to delete additions on account of interest received from banks, advances to contractors, and miscellaneous income from the sale of scrap. The Tribunal determined that these receipts were capital in nature and should be set off against preoperative expenses, following established judicial precedents. The appeal was dismissed, affirming the CIT(A)'s findings. Case-Laws Income Tax Tue, 11 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407534