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TMI Blog2020 (2) TMI 1148X X X X Extracts X X X X X X X X Extracts X X X X ..... following substantial questions of law are framed (i) Whether in the facts and circumstances of the case and in law the ITAT has erred in not appreciating that, during the stage of pre-commencement of business, interest derived by the assessee from the borrowed funds which were invested in fixed deposits with banks would be chargeable to tax under the head Income From Other Sources and would not g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng the appeal. Considering the fact that the delay is of two days in re-filing the appeal, the application is allowed and the said delay is condoned. The application stands disposed of. ITA 82/2020 Issue notice. Learned counsel for the respondent accepts notice. We have heard learned counsels at some length. Learned counsel for the appellant has urged that the Tribunal has placed reliance on t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d circumstances of the case and in law the ITAT has erred in not appreciating that, during the stage of pre-commencement of business, interest derived by the assesse from the borrowed funds which were invested in fixed deposits with banks would be chargeable to tax under the head 'Income From Other Sources' and would not go to reduce the capital work in progress? (ii) Whether in the fact ..... X X X X Extracts X X X X X X X X Extracts X X X X
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