Characterization of income - unutilized funds of the project - government funds are deployed for an...

Characterization of income - unutilized funds of the project - government funds are deployed for an ultimate use in setting up of an infrastructure project - capital or revenue receipt - income generated out of earlier release - there is no profit motive as the entire fund entrusted and the interest accrued therefrom has to be utilized only for the purpose of scheme. Thus, it has to be capitalized and cannot be considered as revenue receipts. - HC .....

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