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Interest Income

Partner Lending Loan to Firm out of Bank Term Loan Eligible for Deduction of Net Interest Income u/s 57 of Income Tax Act: ITAT [Read Order]

Taxscan Team

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the deduction under section 57 of the Income Tax Act 1961 is allowable...

Interest Income from Loan Extended Against Mortgage of Properties would not Constitute Rental...

TDS on Interest Income on FDRs: ITAT Rejects Plea by Emaar’s Subsidiary on Interest paid to Parent...

CBDT amends Procedure and Guidelines for submission of SFT for Interest Income: Abolishes Limit of...

Relief to Vodafone India: ITAT allows Sec 80 Deduction on Interest Income and Miscellaneous Income...

Interest Income earned on FD kept as Security for Performance Guarantee is Taxable as Business Income Can be set off against Project Expenses: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has held that interest income earned on Fixed Deposit (FD) kept as security for performance guarantee is taxable as business income Can...

Interest Income not to be assessed When Assessee is Non-Resident: ITAT [Read Order]

A Division Bench of the Income Tax Appellate Tribunal (ITAT), Mumbai Bench observed that Interest income not to be assessed when assessee is non-resident. It came to the notice of the Government...

Incidental Income in form of Interest Income, eligible for Deduction u/s 10A: Delhi High Court [Read Order]

The Delhi High Court held that incidental income in form of interest income, eligible for deduction under Section 10A of the Income Tax Act, 1961. The Income Tax Appeal has been filed challenging...

Interest Income from FDRs not Taxable till the Date of Final Arbitral Award where Ownership is Determined: Delhi HC [Read Order]

The Delhi High Court has held that the income tax is not leviable on the interest income from FDRs till the date of the final arbitral awardwhere the ownership of such FDRs was finally established. ...

Interest Income from Staff Loans and Advances, Fixed Deposits and Advances to be Treated as Business Income: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Ahmedabad Bench, while deciding a group of appeals filed by both the assessee and the revenue, held that interest income from staff loans and advances as...

Earning Interest Income from Inter-Corporate Deposit is Business Income: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Kolkata bench held that earning interest income from Inter-corporate Deposit is business income. The assessee, Sunny Rock Estates & Developers Pvt....

No Connection between Interest Income and PE: ITAT upholds Lower Tax Rate on Interest Income under Article 11(2) of Indo-Japanese Tax Treaty [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has upheld a lower tax rate on interest income under Article 11(2) of the Indo-Japanese tax treaty since no connection between interest...

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