https://www.taxtmi.com/caselaws?id=423349 The High Court dismissed the appeal and affirmed the ITAT's decision on capitalizing interest earned on Fixed Deposit Receipts during the construction period, as it aligned with RBI guidelines and previous judicial precedents. The Court held that such interest amounts linked to setting up plant and machinery are of a capital nature and not taxable as income, citing relevant cases. The Court found no substantial question of law as the issues were already addressed in previous decisions by the Apex Court and the High Court. en-us Wed, 01 Jun 2022 00:00:00 +0530 Mon, 16 Jan 2023 17:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423349 The High Court dismissed the appeal and affirmed the ITAT's decision on capitalizing interest earned on Fixed Deposit Receipts during the construction period, as it aligned with RBI guidelines and previous judicial precedents. The Court held that such interest amounts linked to setting up plant and machinery are of a capital nature and not taxable as income, citing relevant cases. The Court found no substantial question of law as the issues were already addressed in previous decisions by the Apex Court and the High Court. Case-Laws Income Tax Wed, 01 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423349