https://www.taxtmi.com/caselaws?id=32657 HC held that interest earned on funds infused as share capital for setting up a plant, earned after setting up but before commencement, is a capital receipt to be adjusted against pre-operative expenses rather than taxable as income from other sources. The court found the funds were inextricably linked to business setup, disagreed with the Tribunal's reliance on the SC decision, answered in favour of the assessee and against the Revenue, allowed the appeals and set aside the impugned judgment. en-us Thu, 26 Feb 2009 00:00:00 +0530 Sat, 18 Oct 2025 09:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32657 HC held that interest earned on funds infused as share capital for setting up a plant, earned after setting up but before commencement, is a capital receipt to be adjusted against pre-operative expenses rather than taxable as income from other sources. The court found the funds were inextricably linked to business setup, disagreed with the Tribunal's reliance on the SC decision, answered in favour of the assessee and against the Revenue, allowed the appeals and set aside the impugned judgment. Case-Laws Income Tax Thu, 26 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32657