Interest Income Linked to Business, cannot be treated as other income

DCIT Vs Evita Construction Pvt. Limited (ITAT Mumbai) The case of DCIT Vs Evita Construction Pvt. Limited was heard by the Income Tax Appellate Tribunal (ITAT) Mumbai. This appeal was filed by the Revenue challenging the order of the Commissioner of Income Tax (Appeals) [CIT(A)] related to the assessment year 2015-16. The key issue in this case was the deletion of an addition made by the Assessing Officer (AO) regarding the interest income of ₹1,87,44,483 received on fixed deposits and its netting off against interest expenditure capitalized in work-in-progress (WIP). Evita Construction Pvt....