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 November 2017 Year 2017 This

Assessment of income - nature of amount of interest - work could ...


Court Rules Interest from Dispute with Irrigation Department is Taxable Income for Assessee.

November 23, 2017

Case Laws     Income Tax     HC

Assessment of income - nature of amount of interest - work could not be completed by the stipulated period and hence a dispute arose between the assessee and the Irrigation Department - interest actually received was income. - HC

View Source

 


 

You may also like:

  1. This case revolves around the addition of cash deposits u/s 68 of the Income Tax Act, where the assessees failed to provide credible explanations regarding the source....

  2. The appellants challenged the order of the Commissioner (Appeals) denying eligible interest on the refunded amount. The court held that interest accrued on the deposited...

  3. 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...

  4. The Income Tax Settlement Commission passed an order charging interest u/ss 234A, 234B, and 234C of the Income Tax Act. The petitioners challenged the order's...

  5. Income recognition - Interest on NPA - Citing a judgment of the Delhi High Court, affirmed by the Supreme Court, the High Court concluded that if interest on NPAs is not...

  6. HC declined to address allocation of undisclosed Shilpgram Scheme income between parties as factual matter, upholding Tribunal's 70-30 split. On interest charges under s....

  7. The assessee borrowed loans from financial institutions at an interest rate of 12.75% and advanced loans to group companies or relatives at 12% interest rate. The...

  8. Income from the nature of interest received by the assessee in DRDO/ISRO accounts (for short ‘FD A/cs’) - the assessee, DRDO/ISRO are either Government Departments or...

  9. The Appellate Tribunal adjudicated on the issue of addition of interest income and penalty u/s 271(1)(c). The assessee contended that the interest income from a Fixed...

  10. Bogus sundry creditors - Whether CIT(A) had clearly violated the provisions of Rule 46A of the Income-tax Rules, 1962, while admitting additional evidence? - The High...

  11. This case deals with the disallowance of expenditure u/s 14A of the Income Tax Act, which pertains to expenditure incurred in relation to exempt income. The key points...

  12. SC held that interest must be paid on refund of stamp duty for lost e-stamp paper, applying the principle that a person deprived of legitimate use of money deserves...

  13. The High Court held that the Revenue department's request for two months to pay interest on refunds delayed by the department itself was audacious, as public money is...

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

  15. 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...

 

Quick Updates:Latest Updates