JSW STEEL LTD. vs C.I.T.. — C.A. No. 6555/2009

Summary: JSW Steel Ltd. v. C.I.T., C.A. No. 006555/2009 The Supreme Court granted special leave to appeal and disposed of JSW Steel's civil appeal by directing the High Court to answer two specific questions: (1) whether interest from borrowed funds invested in short-term deposits should be taxed as "income from other sources" or "income from business," and (2) whether pre-commencement expenditures of Rs. 15,43,40,694 and debenture issue expenses of Rs. 10,77,53,775 are allowable as business commencement expenses. The High Court was instructed to address these questions in accordance with law (September 29, 2009). This case analysis is maintained by casestatus.in based on publicly available court records.