2009 (2) TMI 32 - DELHI HIGH COURT

Interest earned on monies received as share capital by the assessee which were temporarily put in a fixed deposit awaiting acquisition of land - assessee claim that the interest was in the nature of capital receipt which was liable to be set off against pre-operative expenses, is acceptable - funds infused in the assessee by the joint venture partner were inextricably linked with the setting up of the plant, so the interest earned could not be treated as income from other sources