I.T.O. WARD -1(1), RAIPUR (CG) vs. M/S CMDC ICPL COAL LTD,, RAIPUR (CG)
In the result, the appeal of the assessee is allowed
ITA 271/BIL/2014[2011-12]Status: DisposedITAT Raipur12 Oct 2018AY 2011-12
Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2011-12 Ito, Ward- 1(1), Cmdc Icpl Coal Ltd., Raipur (Cg). Rajbandha Maidan, G. E. Road, Vs. Raipur (Cg).
For Appellant: Shri R. B. Doshi, CAFor Respondent: Shri Ajit Kumar Laskar, DR
house property. Likewise, a company may have income from other sources. . . . The company may also, as in
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that case, keep the surplus funds in short term deposits in order to earn interest. Such interest will be chargeable under section 56 of the Income tax Act". This court also emphasised the fact that the company was not bound to utilise
