Home Highlights October 2015 Year 2015 This

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1. Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...

2. Deduction u/s 80P(2)(d) was allowed for interest income earned by the assessee from fixed deposits and savings accounts with Ahmedabad District Co-operative Bank...

3. Unexplained cash credit - addition of cash deposit in bank account - It is important to mention here that the bank statements cannot be termed as books of accounts for...

4. Seeking lifting of attachment on Bank Accounts of Directors - recovery of dues of the company, while the bank accounts of Directors were attached - The attachment on the...

5. Attachment of bank account - One year passed - Section 83(2) - The respondents-Banks are directed to allow the petitioners to operate their bank accounts forthwith - HC

6. Allowability of deduction u/s 80P(2)(d) for interest income from deposits/investments in a cooperative bank by a cooperative society. The assessee, a cooperative society...

7. The ITAT Pune ruled on interest income from land acquisition and fixed deposits. Interest u/s 28 of Land Acquisition Act is not taxable based on Bombay High Court...

8. Addition on account of cash deposit to the bank account of the assessee - assessee is consistently submitting that the assessee has two bank accounts in her name and the...

9. Provisional attachment of Bank accounts of petitioner - despite of due service to the bank the bank has chosen not to remain present - being a drastic power, the...

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

11. Deduction u/s 80P - deduction of income earned as interest/dividend from co-operative bank is allowable. Section 80P(2)(d) reflects that if income by way of interest or...

12. Taxability of interest income from short term fixed deposits - funds were deposit in the bank for a short period for the purpose of utilizing the same in the project and...

13. 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...

14. Addition u/s 68 - unexplained deposits in Dubai bank account - CIT(A) has observed that taxability of sum in Dubai Bank account is beyond the jurisdiction of Indian tax...

15. TDS u/s 194A - It is abundantly clear that the interest paid or accrued on the Term Deposit Accounts under Saving Bank Account of JKSRRDA was the money belonging to the...