Interest income from unutilised government grants not taxable per Tribunal's earlier order. Sponsorship expenditure treated as revenue expense.

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....The ITAT held that interest income received on unutilized grants is not taxable as it is considered part of the grant itself, following earlier Tribunal decisions. The orders for AYs 2014-15, 2015-16, 2017-18, and 2018-19 supported this view, and no new evidence was presented to warrant a different stance. The decision was in line with CIT(A)’s findings, as no higher court rulings were cited to challenge the Tribunal's position. Regarding sponsorship expenditure, the CIT(A) deemed it as revenue expenditure, citing statutory obligations and case law like Lakshmi Ji Sugar Mills Co. Pvt. Ltd. and Raj Spinning and Weaving Mills Ltd. This ruling favored the assessee, allowing for deduction as business expenses.....