https://www.taxtmi.com/caselaws?id=312202 Interest earned on bank deposits and short-term loans is treated as business income when it arises from funds deployed in the course of an infrastructure business and remains inextricably linked to project-related operations, rather than as income from other sources. The right to operate a BOT toll road and collect annuity or toll is also treated as a depreciable intangible asset, because it constitutes a commercial or licensing right of similar nature within section 32(1)(ii). The note therefore recognises both the business character of the interest receipts and depreciation eligibility for the project right. en-us Mon, 20 Sep 2021 00:00:00 +0530 Tue, 06 Feb 2024 23:10:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312202 Interest earned on bank deposits and short-term loans is treated as business income when it arises from funds deployed in the course of an infrastructure business and remains inextricably linked to project-related operations, rather than as income from other sources. The right to operate a BOT toll road and collect annuity or toll is also treated as a depreciable intangible asset, because it constitutes a commercial or licensing right of similar nature within section 32(1)(ii). The note therefore recognises both the business character of the interest receipts and depreciation eligibility for the project right. Case-Laws Income Tax Mon, 20 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312202