Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2011 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (9) TMI 211 - AT - Income TaxNature of receipt during the process of setting of a plant - capital receipt or revenue receipt - interest income on bank deposits - Held that:- the issue is squarely covered by the decision of the Hon’ble Supreme Court in the case of Bokaro Steel Limited (1998 -TMI - 5705 - SUPREME Court) as well as by Hon’ble Delhi High Court in the case of India Drugs & Pharmaceuticals Limited (1981 -TMI - 28877 - DELHI High Court). The ld. CIT(A) after applying the proposition of law laid down in these cases to the facts of the instant case, had correctly held that receipts on account of tender form and recovery of house accommodation and furniture & fixture provided with house accommodation were of capital nature. - Decided against the revenue.
|