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:

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