Interest earned on idle funds raised through share capital for project establishment is capital receipt

Brief of the case: ITAT Delhi has held in  the case of ITO vs. M/s Factor Power Ltd that Interest Earned on Fund Raised Through Share Capital for installation of thermal power plant , which is been deposited temporarily in bank as fund were lying idle, with a motive to reduce the capital cost of thermal power plant  is a Capital Receipt and cannot be taxed as Income From Other Sources. Facts of the case: Assessee had into a joint venture with some company for establishing thermal power plant for which it raised  capital from public. Assessee had given some advance money and placed the order...