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2021 (2) TMI 171 - AT - Income TaxCorrect head of income - Income from FDRs during pre-operative period - Income from other sources OR capital gain - HELD THAT:- Considering the above facts in the light of the Order of the Tribunal [2018 (4) TMI 1853 - ITAT DELHI] in the case of the same assessee, we find the issue is covered in favour of the assessee as held 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. We, accordingly, following the same reasons for decision, set aside the Orders of the authorities below and direct that impugned interest income is capital receipt not chargeable to tax during assessment year under appeal. Accordingly, appeal of the Assessee is allowed.
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