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Income Tax - Highlights / Catch Notes

Home Highlights September 2016 Year 2016 This

The interest received prior to commencement of commercial ...


The interest received prior to commencement of commercial operations of the specified mega road projects...

September 23, 2016

Case Laws     Income Tax     AT

The interest received prior to commencement of commercial operations of the specified mega road projects will be in the nature of capital receipt and will be required to be set off against the pre-operative expenditure capitalized under the head “Capital work in progress” and the same cannot be brought to tax under the head “income from other sources” - AT

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