Interest received from FDR Taxable as ‘Other Income’: ITAT [Read Order]

FDR - Interest - Interest received from FDR - Income - ITAT - taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the interest received from fixed deposit receipt (FDR) is taxable not as income from the business but as other income in Income Tax Act 1961. In the appeal before the ITAT Shri Mahaveer Jain and Shri Charmi Shroff appeared for the appellant…

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M/s Skyline Prashasti vs Deputy Commissioner of Income Tax

Counsel for Appellant:   Mahaveer Jain & Charmi Shroff

Counsel for Respondent:   Pitta Samuel


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