Interest earned on deposits and advances made for the new unit ...

Interest from deposits for a new unit is a capital receipt, not taxable, reducing project costs.

October 19, 2012

Case Laws Income Tax HC

Interest earned on deposits and advances made for the new unit being established - it would be capital receipt not liable to tax but ultimately be used to reduce the cost of the project. - HC

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Interest earned on deposits and advances made for the new unit ...

Interest from deposits for a new unit is a capital receipt, not taxable, reducing project costs.

October 19, 2012

Case Laws Income Tax HC

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