https://www.taxtmi.com/caselaws?id=56264 The Tribunal held that interest earned on foreign currency deposits during the pre-operative period is taxable as "Income from other sources." The Tribunal overturned the CIT(A)'s decision and directed the Assessing Officer to allow deductions for the expenditure incurred to earn the interest income. The Tribunal emphasized the taxability of interest income based on Supreme Court decisions and the allowance of deductions for related expenditures. en-us Fri, 23 Dec 2005 00:00:00 +0530 Tue, 29 Nov 2016 13:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56264 The Tribunal held that interest earned on foreign currency deposits during the pre-operative period is taxable as "Income from other sources." The Tribunal overturned the CIT(A)'s decision and directed the Assessing Officer to allow deductions for the expenditure incurred to earn the interest income. The Tribunal emphasized the taxability of interest income based on Supreme Court decisions and the allowance of deductions for related expenditures. Case-Laws Income Tax Fri, 23 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56264