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2017 (12) TMI 192 - ITAT HYDERABADInterest income earned by depositing the share capital money against the interest expenses - nature of income - capital gain or income from other sources - Held that:- The interest income earned by assessee by depositing the share capital in Fixed Deposits under constraint are eligible to treat the income as capital in nature and allowed to set off against the precommencement expenses during the year. Accordingly, grounds raised by the assessee are allowed.
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