https://www.taxtmi.com/caselaws?id=414904 The Court held that interest earned on Short Term Deposit Receipts for procuring plant and machinery should be treated as a capital receipt, not taxable income. The Court differentiated the case from precedent, emphasizing the utilization of funds for the project. The appeal was allowed in favor of the Assessee, setting aside lower authorities' decisions. The Department was directed to treat the interest as a capital receipt. en-us Wed, 17 Nov 2021 00:00:00 +0530 Fri, 19 Nov 2021 09:21:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414904 The Court held that interest earned on Short Term Deposit Receipts for procuring plant and machinery should be treated as a capital receipt, not taxable income. The Court differentiated the case from precedent, emphasizing the utilization of funds for the project. The appeal was allowed in favor of the Assessee, setting aside lower authorities' decisions. The Department was directed to treat the interest as a capital receipt. Case-Laws Income Tax Wed, 17 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414904