Treatment of interest earned on fixed deposits made out of funds ...

Case Laws Income Tax

July 3, 2021

Treatment of interest earned on fixed deposits made out of funds of the assessee in the period prior to commencement of business - 'revenue or capital' receipt - the interest received to the extent of ADB loan parked in investments in FDRs is not revenue in nature and not liable to be taxed under the head "income from other sources" - AT

View Source

← Previous Next →

Treatment of interest earned on fixed deposits made out of funds ...

Case Laws Income Tax

July 3, 2021

You may also like:

Characterization of income - Determine the nature of interest income earned - mere fact that the deposits were linked with projects would not alter the character of the...

Interest income earned from fixed deposits created as margin for availing business loans was rightly treated as business income and netted off against interest...

Cash seized during investigation cannot be appropriated towards pre-deposits u/s 35FF of Central Excise Act or Section 129EE of Customs Act as a condition for filing...

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...

Chargebility of interest income - In view of the terms of contract, the fixed deposit and earning of interest on such fixed deposit was intricately connected with the...

Deduction u/s 80-IC - Interest on Fixed Deposits (FD) - in order to avail overdraft facility, the bank mandated pledge of fixed deposits - interest earned out of the...

Doctrine of mutuality - Interest earned on the bank deposits by clubs - Deposit of surplus funds by the appellant Clubs by way of bank deposits in various banks - the...

Addition u/s 69A being cash deposit in the Bank A/c during the demonetization period - cash deposit out of the sale proceeds effected prior to the ban of currency notes...

Additions against fixed deposit in the name of family members and interest income - Admittedly, the amount of fixed deposit in the name of family members can adequately...

Interest earned from the unutilized capital subsidy and equity - Interest earned from the borrowed funds (short term temporary deposits) - interest from borrowed funds...

Correct head of income - interest income earned out of deposits made from the business funds including borrowed funds in the course of running the business of the...

Netting of interest-unless funds are borrowed for making deposit to earn interest, such interest paid can't be allowed as deduction from interest income u/s 57

Nature of Interest income - first ground of appeal of the assessee for treating expenses to the amount as revenue expenditure is dismissed. However, the alternative...

Deduction of interest expenditure incurred on borrowed funds u/s 57 - Interest incurred on borrowed funds utilized for making investment in shares in company of...

The assessee failed to demonstrate that the financial assistance availed on interest was utilized for business purposes without diversion. Where an assessee has...

Quick Updates: