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2015 (7) TMI 1370 - ITAT CHANDIGARHCorrect head of income - treating the interest on FDRs as income from other sources - assessee has taken up a project of NHAI for broadening of section of National Highway 22 but during the year under consideration the company has not commenced any commercial activity as the project was under construction - HELD THAT:- The issue is squarely covered against the assessee by the judgment of the Hon'ble Supreme Court in the case of Tuticorin Alkali Chemicals & Fertilizers Ltd. Vs. CIT [1997 (7) TMI 4 - SUPREME COURT] as well as by the order of the I.T.A.T. Chandigarh Bench in the case of M/s. HP Corporation Ltd. [2014 (6) TMI 1050 - ITAT CHANDIGARH] - We, therefore, do not find any error in the order of the learned CIT (Appeals) in holding that the interest income earned by the assessee company is taxable as "income from other sources". The appeal of the assessee has no merit and the same is accordingly, dismissed.
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