Relief to Toyota Financial: ITAT directs Re-Adjudication on Taxability of Interest Income from NPAs [Read Order]

Taxability of interest income from NPAs reduced from the computation of total income
ITAT - ITAT Bangalore - Income Tax - Toyota Financial - Interest income - Interest income taxation - taxscan

The Bangalore division of the Income Tax Appellate Tribunal ( ITAT ) provided Toyota Financial with relief by instructing a reevaluation of the tax implications related to the interest income derived from Non-Performing Assets ( NPAs ). During the assessment proceedings, the Assessing Officer (AO) observed that the assessee, Toyota Financial Servcies India Limited had…

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