https://www.taxtmi.com/caselaws?id=447340 The ITAT Mumbai held that interest income earned by the assessee from short-term investments of unutilized funds constitutes capital receipt, not revenue receipt. Following a coordinate bench decision in the assessee's own case for assessment years 2013-14 to 2015-16, the tribunal determined that such interest income is not taxable under normal provisions of the Income Tax Act or under section 115JB. The appeal was decided against the revenue department. en-us Mon, 16 Oct 2023 00:00:00 +0530 Fri, 22 Dec 2023 13:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447340 The ITAT Mumbai held that interest income earned by the assessee from short-term investments of unutilized funds constitutes capital receipt, not revenue receipt. Following a coordinate bench decision in the assessee's own case for assessment years 2013-14 to 2015-16, the tribunal determined that such interest income is not taxable under normal provisions of the Income Tax Act or under section 115JB. The appeal was decided against the revenue department. Case-Laws Income Tax Mon, 16 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447340