Income derived out of the Fixed Deposits to secure a bank ...

Fixed Deposit Income Used for Bank Guarantee in Contract Classified as Business Income.

September 27, 2011

Case Laws Income Tax HC

Income derived out of the Fixed Deposits to secure a bank guarantee in order to acquire a contract work to be treated as business income only.... - HC

View Source

← Previous Next →

Income derived out of the Fixed Deposits to secure a bank ...

Fixed Deposit Income Used for Bank Guarantee in Contract Classified as Business Income.

September 27, 2011

Case Laws Income Tax HC

You may also like:

Chargebility of interest income - In view of the terms of contract, the fixed deposit and earning of interest on such fixed deposit was intricately connected with the...

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...

Doctrine of mutuality - Interest earned on the bank deposits by clubs - Deposit of surplus funds by the appellant Clubs by way of bank deposits in various banks - the...

Encashment of Bank Guarantees during CIRP period - scope of moratorium u/s 14 of IBC - If bank guarantee is beyond the mentioned amount in the bank guarantee, if the...

Taxability of interest income - ‘Interest on bank deposits, inter-corporate deposits, debentures, from sister concerns and ‘other interest - the surplus money, unless...

Nature of interest income - Appropriate taxable head of income - Because except its subsidiary, the assessee has not given Bank Guarantee to anybody else, which can...

Correct head of Income - Interest income earned from deposits kept in banks for availing bank guarantees - AO directed to assess interest income from bank deposits for...

Taxability of interest of income on fixed deposits - The assessee had made fixed deposits with banks and derived interest income thereon only to recover the interest...

Set off of brought forward business loss against income from other sources - As provision of section 72 are very clear that brought forward business loss can only be set...

Assessment of the bank interest - Interest on fixed deposits in providing bank Guarantee under EPCG scheme is in the nature of capital receipt and to be set off against...

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

Estimation of income - “real income/commission income” - Unexplained deposits in bank account - the assessee is engaged in the business of “cheque discounting” in order...

Disallowance of deduction claimed u/s. 80P - the funds available are for the business purpose of providing credit facilities - It is only because in a given point of...

Additions against fixed deposit in the name of family members and interest income - Admittedly, the amount of fixed deposit in the name of family members can adequately...

Invoking and encashing a bank guarantee - Demerger of business - bank guarantee for fulfillment of the duty amount - The High Court acknowledged the limited jurisdiction...

Quick Updates: