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2018 (4) TMI 1853 - ITAT DELHICorrect head of income - interest income on FDRs for short term duration - income from other sources or capital receipt - HELD THAT:- Respectfully applying the ratio of the judgment of Indian Oil Panipat Power Consortium Ltd. [2009 (2) TMI 32 - DELHI HIGH COURT] we hold that since the business of the assessee had not commenced, the interest received in the period prior to the commencement of business was in the nature of capital receipt and was required to be set off against the preoperative expenses. Therefore, the impugned interest income is a capital receipt not chargeable to tax during the year under consideration. Accordingly, we allow the grounds of appeal raised by the assessee.
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