Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2013 Year 2013 This

Nature of Interest income received u/s 244A cannot form part of ...

Case Laws     Income Tax

November 4, 2013

Nature of Interest income received u/s 244A cannot form part of business activity of the assessee and the same cannot even be treated as an activity incidental to the business of the assessee so as to say that such interest constitutes its business income - AT

View Source

 


 

You may also like:

  1. Characterization of receipts - Treatment of interest income from staff loans and advances, interest income from other loans and advances and miscellaneous income -...

  2. Set off of the brought forward losses against the income from other sources - Ld. CIT (A) has rightly decided that, “although interest income has been shown as income...

  3. Deduction u/s 80-IA - Nature of Interest income - the interest received on advances and loans given to its employees are receipts in normal course of carrying its...

  4. Additions as interest income - compensation received by the assessee - As the business of assessee was set up and had started and there was huge investment made by...

  5. The High Court held that rent income derived from letting out properties by the assessee should be treated as 'Income from Profits and Gains of Business' and not 'Income...

  6. Correct head of income - interest income on FD - Income From Other Sources v/s income from business - The said interest income has been earned by the assessee in the...

  7. Interest income - Correct head of income - income from other sources OR income from business - if interest income earned by the assessee is not incidental to the...

  8. Set off of brought forward business loss of earlier years - We also see no conflict in an income being taxable under the head profits and gains from business or...

  9. Nature of income surrendered during the course of survey - Addition u/s 69 r/w section 115BBE or business income - Where the assessee has subsequently recorded the same...

  10. Business income v/s undisclosed income - If the assessee had shown income u/s.44AD which is presumptive basis for taxation and looking to the nature of bank account...

  11. Interest income earned from fixed deposits created as margin for availing business loans was rightly treated as business income and netted off against interest...

  12. Correct head of taxability of interest income - business income or income from other sources - the assessee firm had availed overdraft facility from the bank against the...

  13. Deduction u/s.80IA - Interest and other income - the assessee is not entitled for deduction towards eligible profit u/s.80IA of the Act in respect of other income...

  14. Treating the income from house property as business income - the intention of the assessee is to exploit commercially by way of complex commercial activities generating...

  15. Benefit of deduction u/s 80IC - Activity of processing of raw material received from HUL and then feeding the processed raw material to the mother plant of HUL - The...

 

Quick Updates:Latest Updates