SLP admitted against ruling that interest earned on funds deposited prior to commencement to business not taxable

IT: SLP granted against High Court ruling that interest received on funds deposited with banks borrowed for specific purpose of execution of mega projects prior to commencement of commercial operations will be in nature of capital receipt and will be required to be set off against pre-operative expenditure capitalized under head capital work in progress and same cannot be brought to tax under head income from other sources

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