https://www.taxtmi.com/caselaws?id=55407 The Tribunal held that the interest income earned on short term deposits by the assessee company was not taxable due to the overriding title of the State Government. The decision favored the assessee, emphasizing the restrictions on the use of the contributed funds and the government's entitlement to the interest earned. The Tribunal did not address the deductibility of the interest amount, as the first argument in favor of the assessee was upheld. en-us Sat, 02 Jan 1982 00:00:00 +0530 Fri, 26 Nov 2010 18:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55407 The Tribunal held that the interest income earned on short term deposits by the assessee company was not taxable due to the overriding title of the State Government. The decision favored the assessee, emphasizing the restrictions on the use of the contributed funds and the government's entitlement to the interest earned. The Tribunal did not address the deductibility of the interest amount, as the first argument in favor of the assessee was upheld. Case-Laws Income Tax Sat, 02 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55407