Income arising out of interest - whether cannot be taken into ...

Case Laws Income Tax

August 13, 2015

Income arising out of interest - whether cannot be taken into account for the purpose of giving benefit under section 33AB as held by Tribunal? - When the assessee has paid interest of nearly ₹ 2.66 crores and has earned interest of nearly ₹ 1.88 crores, the effective debit on that side is less than ₹ 1 crore. - benefit of Section 33AB allowed - HC

View Source

← Previous Next →

Income arising out of interest - whether cannot be taken into ...

Case Laws Income Tax

August 13, 2015

You may also like:

Income deemed to accrue or arise in India - interest income - In these years, the interest income has accrued on the deposits kept by the assessees in HSBC bank, Geneva...

Disallowance of claim of interest expenses u/s. 57(iii) - The Assessing Officer (AO) had disallowed a portion of the interest expenses based on the difference between...

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

Raid - validity of search and seizure proceedings - attachment of Bank Accounts - the said principle does not apply insofar as an attachment made to protect the interest...

Addition on account of interest income - if assessee does not pay interest for a period of exceeding six months then interest income should not be recognized in its...

Interest income of the appellant-Corporation - income from other sources u/s 56 or Business income u/s 28 - The business activity of the appellant-Corporation is really...

Transfer Pricing Adjustment - Adjustment on account of notional interest on the receivables - when the assessee is having their own funds and not paying interest on any...

Disallowance of interest expenses incurred for non-business purposes - The ITAT found that the interest expenditure claimed by the assessee was allowable due to the...

New Accounting Code for the purpose of Accounting of collection of Service Tax - Trade Notice

Determination of income u/s 44 - Taxing the income arising on account of shareholders profits - where the assessee company was engaged only in life insurance business...

Addition u/s 43B - non deposit of GST before the due date of filing of return of income under section 139(1) - the contention of the assessee that it has not claimed any...

Interest income earned from funds received from Government for setting up a company is a capital receipt, not revenue receipt, as the funds and income must be utilized...

Treating the interest income as 'income from other sources' - CIT(A) in his order has observed that the assessee submitted profit and loss account and balance sheet only...

Income on account of interest treated as income from other sources – Disallowance of remuneration to partners from interest income - deduction allowed considering as...

Accrual of income - addition on account of accrued interest on NPA account as income - the assessee had adequately established that the interest received during the year...

Quick Updates: