Tag Archives: Interest on FD

Interest on Fixed Deposits from unutilized funds of Power Plant Taxable – income from other source

Held The Hon’ble jurisdictional High Court in the case of CIT v. Rasi Cement Ltd. [1998] 232 ITR 554 (AP) has answered similar questions involved in favour of the Revenue. The question before the Hon’ble High Court was whether the interest earned on surplus funds deposited in the banks during the installation of the company,… Read More »