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 March 2017 Year 2017 This

Exemption u/s 10(23B) - the income of interest is attributable ...

Case Laws     Income Tax

March 30, 2017

Exemption u/s 10(23B) - the income of interest is attributable to and arises from working funds in an integrated manner and for this reason also we find that interest cannot be separated from the overall income and activities of the Trust - Benefit of exemption allowed- AT

View Source

 


 

You may also like:

  1. Deduction u/s 80P - CIT(A) has allocated the whole of the interest expenditure over the interest on FDRs and to the extent of interest attributable to FDRs placed with...

  2. Interest incurred claimed as a deduction u/s. 57(iii) out of interest earned from mutual funds - In our opinion, unless funds are borrowed for making deposit to earn...

  3. Disallowance of exemption claimed u/s 10(34) on Dividend income - the conditions laid down u/s 115-O to avail the exemption u/s 10(34), is to be complied with at the...

  4. Exemption claimed u/s.10(23B) - Mandatory approval from Khadi and Village Industries Commission - approval was granted for more than three assessment years and therefore...

  5. 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...

  6. Exemption of Gross Interest u/s 10(15) - exemption under section 10(15) was to be allowed on gross interest and not on the net interest - AT

  7. Deduction u/s 57 while computing interest income - AO / CIT(A) had allowed deduction by restricting the of cost of funds to the extent of 15% on ad-hoc basis of the...

  8. 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...

  9. 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...

  10. Addition of interest attributable on the diversion of loan fund - Once own fund of the assessee exceeds the amount of interest free loans and advances, then a...

  11. The case pertains to the exemption u/s 10(23G) for long-term capital gains arising from the purchase of shares for creating infrastructure facilities. The key points...

  12. Benefit exemption from income tax - insurance business - the assessee is entitle to claim exemption under section 10(15) towards interest income from tax free bonds,...

  13. Exemption u/s 10(34) - dividend income received by SARA fund - When the company with which SARA Fund has been invested, had already paid additional income tax on the...

  14. Allowability of depreciation @10% as against 100% claimed by the assessee - nature of expenditure on Civil work, flooring work, and finishing work, etc incurred as...

  15. The assessee, a university, claimed exemption u/s 10(23C)(iiiab) for the relevant assessment year, which was accepted by the Assessing Officer (AO) after considering the...

 

Quick Updates:Latest Updates