The Delhi High Court held interest on funds linked to project setup and earmarked for machinery purchase cannot be taxed separately. Bench of Justices V Kameswar Rao and Vinod Kumar ruled such income must be capitalized reducing overall project cost
The Karnataka High Court ordered State tax authorities to refund GST collected from Divyasree Tarbus Builders Private Limited, retaining only the mandatory deposit under Section 112 CGST Act, granting relief under Circular No. 224/18/2024-GST pending GST Appellate Tribunal constitution.
