TMI Blog2018 (2) TMI 1764X X X X Extracts X X X X X X X X Extracts X X X X ..... he project and therefore, constituted business income. - Held that:- It is evident that both the lower authorities followed the ruling of the Supreme Court on the question of treatment of interest in such cases. Furthermore, this Court too has in the case of the same assessee [2012 (10) TMI 524 - DELHI HIGH COURT] held that similar income had to be treated as business income. Therefore, no substan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lso noticed that in NTPC SAIL Power Supply Company (P.) Ltd. Vs. CIT (ITA no. 1238 decided on 17.7.2012), this Court had allowed the assessee s claim that the interest was inextricably linked to the setting up of the project and therefore, constituted business income. The ITAT concurred with the CIT(A) s decision in rejecting the Revenue s appeal. It is evident that both the lower authorities f ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
