https://www.taxtmi.com/caselaws?id=56190 The tribunal upheld the taxability of interest income earned by the assessee-company, ruling that the interest received could not be adjusted against capital expenditure. The tribunal determined that the business had not commenced, and the expenditure did not directly contribute to earning the income, thus rejecting the assessee's arguments. The appeal was dismissed, affirming the decision of the Commissioner (Appeals) and emphasizing the distinction between revenue receipts and capital expenditure in tax assessment. en-us Fri, 01 Jan 1982 00:00:00 +0530 Thu, 02 Dec 2010 11:50:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56190 The tribunal upheld the taxability of interest income earned by the assessee-company, ruling that the interest received could not be adjusted against capital expenditure. The tribunal determined that the business had not commenced, and the expenditure did not directly contribute to earning the income, thus rejecting the assessee's arguments. The appeal was dismissed, affirming the decision of the Commissioner (Appeals) and emphasizing the distinction between revenue receipts and capital expenditure in tax assessment. Case-Laws Income Tax Fri, 01 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56190