Income from short-term investment of sum acquired through convertible zero coupon debenture is taxab

IT: Where a company had introduced in assessee-company a sum of Rs. 900 crores in form of zero coupon convertible debenture to be converted into equity shares within a span of 36 months and out of which a sum of Rs. 500 crores was invested by assessee in short-term deposits with banks, interest earned on these deposits was an income chargeable under head 'income from other sources'