While accepting the fact that the FDR was for obtaining letter ...

Case Laws Income Tax

May 12, 2017

While accepting the fact that the FDR was for obtaining letter of credit to purchase machinery but so far as interest earned thereon is concerned, that is nothing but income through other sources, as such, the CIT rightly treated the same as income taxable. - HC

View Source

← Previous Next →

While accepting the fact that the FDR was for obtaining letter ...

Case Laws Income Tax

May 12, 2017

You may also like:

Exemption u/s 10A/10B - Interest income - deposits made with banks for obtaining letters of credit - Benefit of deduction u/s 10B on interest income related to export...

Disallowance on interest u/s. 36(1)(iii) - AO has compared the payment of interest @ 12%/15% on the unsecured loan obtained by the assessee with the interest amount...

Input tax credit - land filling pit can be considered as ‘Plant and machinery’ or as ‘civil structure’ - In the second explanation given in Section 17, while providing...

Bogus purchase of machinery - Machine was purchased during the financial year 2008-09 and Inspector visited the premises of the vendors in December, 2014. The...

The writ petition challenging notices u/ss 13(2) and 13(4) of the SARFAESI Act, 2002, including alleged arbitrary action for non-compliance with a letter of arrangement...

Disallowance of deduction u/s 57(iii) - the interest paid on the loans raised against the FDR was having the direct nexus with the interest received from the FDRs and...

Bogus purchases - accommodation entry - at best it would be a case that purchases have been made from one party in grey market and bills have been obtained from another...

TP adjustment commission on letter of credit - international transaction or not? - CIT (A) appreciated the difference between corporate guarantee and Letter of Comfort....

Input tax credit - inputs / capital goods / input services - Solar Power Generating Plant of the applicant qualify as 'plant and machinery' as it falls under machinery -...

Disallowance of depreciation claimed by the assessee u/s 32 on the fixed assets acquired/purchased during the year - asset put to use or not? - Once a new factory has...

Depreciation on machinery purchased from Andhra Pradesh State Electricity Board - since the machinery was not purchased by the appellant, it never became the owner of...

Eligibility for Cenvat credit of the welding electrodes used for repair and machinery of the plant and machinery – credit allowed - AT

Cenvat credit allowed on Paint used by the appellant for painting of pipes and machinery.

Additions towards bogus purchases without raw material there cannot be any finished products. The assessee has filed stock details before the authorities which show that...

Interest expenditure - assessee had availed loan at the interest rate of 12% p.a., whereas, it has advanced loan to a sister concern by charging 9% interest p.a - The...

Quick Updates: