Characterization of income - unutilized funds of the project - ...

High Court Rules Unused Government Infrastructure Funds and Interest as Capital Receipts, Not Revenue.

January 17, 2022

Case Laws Income Tax HC

Characterization of income - unutilized funds of the project - government funds are deployed for an ultimate use in setting up of an infrastructure project - capital or revenue receipt - income generated out of earlier release - there is no profit motive as the entire fund entrusted and the interest accrued therefrom has to be utilized only for the purpose of scheme. Thus, it has to be capitalized and cannot be considered as revenue receipts. - HC

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Characterization of income - unutilized funds of the project - ...

High Court Rules Unused Government Infrastructure Funds and Interest as Capital Receipts, Not Revenue.

January 17, 2022

Case Laws Income Tax HC

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