Hll Biotech Limited vs The Commissioner Of Income Tax on 25 September, 2024
In Roads & Bridges Development Corporation of Kerala Ltd. v.
Assistant Commissioner of Income Tax (2018) 257 Taxman 392 (Ker) , a Division
Bench of this Court, considering the question as to whether
the interest accrued on mobilisation advances made by the
assessee to its contractors is capital income or revenue
income, after referring to the judgments of the Apex Court
in Tuticorin Alkali Chemicals & Fertilizers v. Commissioner of Income Tax (supra)
and Commissioner of Income Tax v. Bokaro Steel Ltd. (supra) held that the
interest income received therein was capital receipt.