Interest from FDRs and ICDs for Karanja Creek project is non-taxable capital receipt u/ss 56 and 115JB.

Interest received on FDRs/ICDs - funds are inextricably linked to the development of port terminal and other infrastructure at Karanja Creek which is yet to be completed and commissioned - development work of the port delayed due to late issuance of permissions/clearances by the Govt authorities - capital receipt neither taxable u/s 56 nor u/s 115JB .....

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