PR. COMMISSIONER OF INCOME TAX vs. M/S BRAHMAPUTRA CRACKER AND POLYMER LIMITED....b

Bench: HONOURABLE THE CHIEF JUSTICE,HONOURABLE MR. JUSTICE SOUMITRA SAIKIA

short term bank deposits and earns interest thereupon, the same would be added to the capital funds, and hence it would definitely have an inextricable link with the project cost. Thus, such interest income cannot be considered to be profit earned by the assessee and would definitely have to be treated as capital gains