https://www.taxtmi.com/caselaws?id=305845 The High Court upheld the Tribunal's decision that interest receipts were incidental to the main business and should be treated as capital receipts, not as income from an independent source. The Court found the Tribunal's reliance on previous Supreme Court decisions justifying, distinguishing the Revenue's argument based on a different case. The Court did not determine whether the receipt should be treated as revenue or capital but dismissed the appeal in favor of the assessee, concluding the interest receipts were rightfully treated as capital receipts. en-us Fri, 25 Apr 2008 00:00:00 +0530 Tue, 27 Dec 2022 15:46:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305845 The High Court upheld the Tribunal's decision that interest receipts were incidental to the main business and should be treated as capital receipts, not as income from an independent source. The Court found the Tribunal's reliance on previous Supreme Court decisions justifying, distinguishing the Revenue's argument based on a different case. The Court did not determine whether the receipt should be treated as revenue or capital but dismissed the appeal in favor of the assessee, concluding the interest receipts were rightfully treated as capital receipts. Case-Laws Income Tax Fri, 25 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305845