https://www.taxtmi.com/caselaws?id=463660 HC had held that interest earned on short-term deposit receipts used to enable opening a letter of credit for procuring plant and machinery was incidental to the acquisition and therefore a capital receipt, not taxable as income. The SC disposed of the special leave petition on account of low tax effect, keeping any question of law open. All pending applications, including those for condonation of delay, were dismissed as not surviving. en-us Mon, 11 Nov 2024 00:00:00 +0530 Tue, 09 Sep 2025 18:03:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463660 HC had held that interest earned on short-term deposit receipts used to enable opening a letter of credit for procuring plant and machinery was incidental to the acquisition and therefore a capital receipt, not taxable as income. The SC disposed of the special leave petition on account of low tax effect, keeping any question of law open. All pending applications, including those for condonation of delay, were dismissed as not surviving. Case-Laws Income Tax Mon, 11 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463660