High Court rules interest income on RBI share capital deposits is taxable as "Income from Other Sources." Revenue's appeal dismissed.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Interest income earned on bank deposits - Income made out of share capital received from the Reserve Bank of India - to be taxed as “Income from Other Sources” - or to be reduced from the capital cost of the project - HC dismissed the revenue appeal.....