https://www.taxtmi.com/caselaws?id=438768 The Tribunal ruled in favor of the assessee, directing the Assessing Authority to treat the interest income from Fixed Deposit Receipts (FDRs) as a capital receipt to be set off against preoperative expenses. The decision was based on the distinction between surplus funds and funds inextricably linked to the project, following the principles established in relevant case law. The appeal was allowed, and the disallowance was deleted, emphasizing adherence to Accounting Standards and standard accounting practices. en-us Tue, 30 May 2023 00:00:00 +0530 Wed, 07 Jun 2023 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438768 The Tribunal ruled in favor of the assessee, directing the Assessing Authority to treat the interest income from Fixed Deposit Receipts (FDRs) as a capital receipt to be set off against preoperative expenses. The decision was based on the distinction between surplus funds and funds inextricably linked to the project, following the principles established in relevant case law. The appeal was allowed, and the disallowance was deleted, emphasizing adherence to Accounting Standards and standard accounting practices. Case-Laws Income Tax Tue, 30 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438768