https://www.taxtmi.com/caselaws?id=440377 The Tribunal upheld the decision of the CIT(A) and dismissed all appeals, determining that the interest income earned by the assessee should be classified as 'income from other sources' and not offset against the project cost. The Tribunal found that the interest income accrued after the business was established and was not directly related to any business activity. Previous case laws cited by the assessee were deemed inapplicable, supporting the revenue's stance. Appeals for other assessment years were also rejected based on similar grounds. en-us Fri, 14 Jul 2023 00:00:00 +0530 Mon, 17 Jul 2023 08:30:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440377 The Tribunal upheld the decision of the CIT(A) and dismissed all appeals, determining that the interest income earned by the assessee should be classified as 'income from other sources' and not offset against the project cost. The Tribunal found that the interest income accrued after the business was established and was not directly related to any business activity. Previous case laws cited by the assessee were deemed inapplicable, supporting the revenue's stance. Appeals for other assessment years were also rejected based on similar grounds. Case-Laws Income Tax Fri, 14 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440377