2016 (9) TMI 1499 - HC - Income Tax

Accrual of income - Interest income return reported as inextricably linked with the object of setting up the assessee s power plant - assessee had advanced money to the contractors for smooth working which was interest bearing out of debt funds - HELD THAT - This question was considered in a previous year 2008-2009 2015 (12) TMI 1798 - DELHI HIGH COURT by a bench of this court which rejected the revenue s appeal. Likewise even earlier this court had while relying upon previous binding decisions rejected the revenue s appeal . 2015 (2) TMI 1306 - DELHI HIGH COURT

Summary

The High Court dismissed the revenue's appeal against the Income Tax Appellate Tribunal's decision regarding interest income linked to setting up a power plant. Previous court decisions had rejected similar appeals, so no question of law arose. The appeal was dismissed.