Interest received before commencement of business is capital receipt has to be set-off against pre operative expenses
Interest before commencement of business Where assessee, engaged in business of developing, operating and maintenance of power projects, received certain interest on surplus funds, that were deposited in Government securities, prior to implementation of its projects, amount so received was to be treated as capital receipt IN THE ITAT AHMEDABAD BENCH ‘B’ Adani Power Ltd.… Read More »