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Interest Income

Amount transferred from Current Account to Deposit Account to maintaining shortfall of Accounts cannot be consider Income of Assessee: ITAT deletes Addition [Read Order]

The Chennai bench of Income Tax Appellate Tribunal ( ITAT ) after deleting the addition made by the assessing officer held that the amount...

ITAT upholds disallowance of Expenditure incurred out of Interest Income pertaining to various funds...

Relief to Sahara India: ITAT deletes Addition of Interest Income for AO’s Failure to Appreciate...

Interest Income received from Co-operative Banks cannot be equated with interest received from...

Interest Income Derived by Co-operative Society from any other Co-operative Bank allowable as...

Interest Income received from Co-Operative Bank is eligible deduction u/s 80(2)(d) of Income Tax Act: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai bench held that interest income received from cooperative banks is eligible for a claim of deduction under section 80(2)(d) of the Income Tax Act,...

Interest Income Generated on funds Owned by GOI is not an Income in hands of Appellant Company: ITAT deletes Addition made u/s 56 of Income Tax Act [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition made under Section 56 of the Income Tax Act, 1961 and held that the interest income generated on funds owned by the...

Interest Income earned by a NRI from a Foreign Bank shall not be Taxable in India u/s 5(2) of Income Tax Act: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the interest income earned by a Non-resident of India from a foreign bank shall not be taxable in India under Section 5(2) of the...

Treatment of interest income/miscellaneous receipts earned from employees of Gujarat State Electricity Corporation through advancing loan and facilities: ITAT directs Re-adjudication [Read Order]

The Income Tax Appellate Tribunal (ITAT) Ahmedabad bench directed re-adjudication in respect of treatment of interest income /miscellaneous receipts earned from employees of Gujarat Electricity...

Interest income covered under Article 8(3) of India-France DTAA not taxable for out of funds fixed deposits connected with aircraft under Article 8(1): ITAT Grants Relief to Air France [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the impugned income is not taxable in India as it is covered under Article 8(2) r.w. Article 8(1) of India-France Double Tax...

Interest Income earned from Deposits made on other Cooperatives Banks are eligible for deduction u/s 80P(2)(d) of Income Tax Act: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Bangalore Bench held that Interest income earned from deposits made on other cooperative banks are eligible for deduction under section 80(2)(d) of Income Tax...

Deduction u/s 80P of Income Tax Act shall not be allowed on Interest Income earned from Nationalized Banks: ITAT upholds CIT(A) Order [Read Order]

The Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench while upholding the order of Commissioner of Income Tax (Appeal) held that deduction under Section 80P of Income Tax Act, 1961 should not be...

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