Whether interest income earned on surplus amount of funds ...

Interest from Fixed Deposit Receipts is not business income; AO correctly disallows Section 32AB deductions, categorizing it as other income.

December 27, 2013

Case Laws Income Tax HC

Whether interest income earned on surplus amount of funds involved in FDRs be treated as business income - The AO had rightly disallowed the deductions under Section 32AB out of the interest income treating the same as income from other sources - HC

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Whether interest income earned on surplus amount of funds ...

Interest from Fixed Deposit Receipts is not business income; AO correctly disallows Section 32AB deductions, categorizing it as other income.

December 27, 2013

Case Laws Income Tax HC

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