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    July 28, 2025 Case Laws Indian Laws
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    Income Tax

    Addition made on account of interest on fixed deposits - the...

    Interest on Fixed Deposits Linked to Project Costs, Not Income from Other Sources, Says Court Ruling.

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    Income TaxJuly 18, 2022Case LawsAT

    Addition made on account of interest on fixed deposits - the business nexus is clearly proved. Under these circumstances, the interest income earned on fixed deposits should have to be construed as inextricably linked with the project and should be treated as recovery of part of the project cost and cannot be treated as income from other sources. - AT

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