Interest earned on deposits kept for Business cannot be taxed as Income from other Sources: ITAT [Read Order]

Interest earned - deposits - Business - Income from other Sources - ITAT - taxscan

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) ruled that interest earned on deposits kept for the purpose of business could not be taxed under income from other sources. The Appeal was filed by the revenue against the order of assessment passed under Section 143(3) of the Income-tax Act, 1961 for assessee Bokaro Power Supply…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1199 + GST for 1 year

Subscribe Now

taxscan-loader