Interest on Earmarked Funds Directed by Comptroller and Auditor General Not Considered Assessee Income; Must Serve Specific Purpose.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Accrual of interest earned on earmarked funds - Assessee is bound to follow the directions of C & AG of India - when interest on earmarked fund is not related to the assessee and shall have to be spent for specific purpose, it could not be treated as income of the assessee - AT....