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Interest Earned Out of Bank FDs before the Commencement of Business is 'Business Income' of a Company: Bombay HC [Read Order]

Taxscan Team

The division bench of the Bombay High Court in CIT v. M/s Green Infra Ltd held that the interest amount received by the assessee-Company out of Bank...

Deduction u/s 10AA is Available to Exporters: Interest from FDs kept with Banks for is 'Business...

Investing in Shares by availing Service of Portfolio Manager is ‘Capital Gain’: ITAT dismisses...

Income from Running and Operation of a Mall and Service Charges are ‘Business Income’: ITAT Mumbai...

Profit on Sale of Shares by a Company providing Finance against Securities is ‘Capital Gain’ not...

Income from Leasing out the Property is ‘Business Income’ if the main Object of Activity is to Make Profit: ITAT Hyderabad [Read Order]

In a recent ruling, the division bench of the ITAT, Hyderabad held that, if the main object of leasing out a property is to make profit, the same is chargeable to income tax under the head “Business...

Amount Paid under Compromise Decree is Deductible from Business Income: ITAT Pune [Read Order]

ITAT allows expenditure on amount paid for settlement of suit on copyright violation to Microsoft Company. The Pune bench of the Income Tax Appellate Tribunal, in recent case held that the amount...

Amount received for Promotion of Formula One event is ‘Business Income’, Taxable in India: Delhi HC [Read Judgment]

Receipt on Account of Granting License for the Promotion of Formula One event is Business Income, Taxable in India, rules Delhi High Court. The division bench of the Delhi High Court has ruled that...

Income from Letting out a Commercial Complex is Business Income: Patna HC [Read Judgment]

Recently, the division bench of the Patna High Court held that the income earned by the assessee from letting out a commercial complex must be treated as his business income. The Court, based on...

Profit from Transfer of Shares and units of Mutual Fund are Capital Gain, not Business Income: ITAT Ahmedabad [Read Order]

In a recent ruling, the ITAT, Ahmedabad bench held that the profit arising out of purchase and sale of shares and investing in mutual funds are capital gain. By relying upon the CBDT Circular...

Income from Mall Operations is Taxable as Business Income, says ITAT Mumbai [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal, in a recent ruling, held that the income from mall operations shall be assessed under the head “Business Income” under the provisions of the...

Income from Sale of Mutual Fund is ‘Capital Gain’, not Business Income, says ITAT Delhi [Read Order]

In a recent ruling, the Delhi ITAT held that the income earned by the assessee on sale of mutual fund should be determined under the head “capital gain” under the provisions of the Income Tax Act,...

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