TMI BlogNature of Interest income - first ground of appeal of the assessee for treating expenses to the amount...Nature of Interest income - first ground of appeal of the assessee for treating expenses to the amount as revenue expenditure is dismissed. However, the alternative ground of appeal of the assessee for treating the interest income earned on fixed deposit pertaining to prior period commencement of business is allowed by treating the impugned interest income as capital receipt which is adjusted against pre-operative expenses of the assessee. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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