https://www.taxtmi.com/caselaws?id=758892 Interest earned on FDRs during the construction period was treated as capital in nature where the funds infused for setting up the plant were inextricably linked with the project, so the receipt could not be assessed as income from other sources. The commentary also notes that utilisation of ECB funds without adherence to RBI guidelines was raised as a challenge, but the cited reasoning turned on the project-linked character of the funds. A special leave petition filed with a delay of 699 days was not condoned, and the delay application was dismissed, resulting in dismissal of the SLP. en-us Fri, 13 Sep 2024 00:00:00 +0530 Thu, 30 Apr 2026 15:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758892 Interest earned on FDRs during the construction period was treated as capital in nature where the funds infused for setting up the plant were inextricably linked with the project, so the receipt could not be assessed as income from other sources. The commentary also notes that utilisation of ECB funds without adherence to RBI guidelines was raised as a challenge, but the cited reasoning turned on the project-linked character of the funds. A special leave petition filed with a delay of 699 days was not condoned, and the delay application was dismissed, resulting in dismissal of the SLP. Case-Laws Income Tax Fri, 13 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758892