![Interest Income linked with Power Plant set up is Capital Receipt, can’t be Taxed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/Interest-income-power-plant-capital-receipt-ITAT-Taxscan.jpg "Interest Income linked with Power Plant set up is Capital Receipt, can’t be Taxed: ITAT [Read Order]")
Interest Income linked with Power Plant set up is Capital Receipt, can’t be Taxed: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Allahabad Bench held that the no tax is applicable on the interest income linked with the power plant set...
![CIT(A) rightly treated the fixed deposit interest income under the “Income from Business & Profession” instead of “Income from Other Sources”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/11/NFDC-CITA-fixed-deposit-interest-income-Income-from-Business-Income-from-Other-Sources-ITAT-Taxscan.jpeg "CIT(A) rightly treated the fixed deposit interest income under the “Income from Business & Profession” instead of “Income from Other Sources”: ITAT [Read Order]")
![Advance Income received as interest income on bills discounting is subjected to taxation on accrual basis: Madras HC grants relief to Karur Vysya Bank [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/10/ITAT-interest-income-bills-discounting-Advance-Income-taxation-Karur-Vysya-Bank-Taxscan.jpg "Advance Income received as interest income on bills discounting is subjected to taxation on accrual basis: Madras HC grants relief to Karur Vysya Bank [Read Judgment]")
![ITAT deletes addition of alleged Long-Term Capital Gains and estimated commission as revenue failed to dislodge assessee’s claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/09/ITAT-Long-Term-Capital-Gains-Taxscan.jpg "ITAT deletes addition of alleged Long-Term Capital Gains and estimated commission as revenue failed to dislodge assessee’s claim [Read Order]")
![ITAT allows Tax Relief to Confederation of Indian Textile Industry [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/Indian-Textile-industry-Tax-ITAT-Taxscan.jpg "ITAT allows Tax Relief to Confederation of Indian Textile Industry [Read Order]")
Interest Income from FDRs can be treated as Business Income If Assessee proves that such FDR is essential/necessary for obtaining the Contract: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT), recently held that the interest income from FDRs can be treated as business income if the assessee proves that the same is...
![Interest Income from FDRs can be treated as Business Income If Assessee proves that such FDR is essential/necessary for obtaining the Contract: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/interest-income-FDRs-business-income-assessee-Taxscan.jpeg "Interest Income from FDRs can be treated as Business Income If Assessee proves that such FDR is essential/necessary for obtaining the Contract: ITAT [Read Order]")
Disallowance of Deduction of Interest Income should be restricted to Net Interest and not Gross Interest: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) held that disallowance of deduction under section 80IB(10) of the Income Tax Act, 1961 in respect of interest income should be restricted to...
![Disallowance of Deduction of Interest Income should be restricted to Net Interest and not Gross Interest: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/06/Interest-Income-Taxscan.jpg "Disallowance of Deduction of Interest Income should be restricted to Net Interest and not Gross Interest: ITAT [Read Order]")
Interest Income of Co-Operative Society from Co-operative Bank entitled for Deduction under Sec 80P (2)(d): ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) held that interest income derived by a co-operative society from its investments held with a co-operative bank would be entitled to claim of deduction under...
No Deduction on Interest Income received from Bank on FDRs Pledged as Security Deposit: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) while dismissing the appeal preferred by the assessee ordered that the assessee shall not be entitled to deduction on Interest Income...
ITAT Allows 80P Deduction to ‘Interest Income’ earned by SBI Officers Co-op. Credit Society Ltd on deposits placed with SBI [Read Order]
A division bench of the Hyderabad ITAT, while granting relief to M/s SBI Officers Coop. Credit Society Ltd, held that the society is eligible for deduction under Section 80P of the Income Tax Act,...
![ITAT Allows 80P Deduction to ‘Interest Income’ earned by SBI Officers Co-op. Credit Society Ltd on deposits placed with SBI [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/11/SBI.jpg "ITAT Allows 80P Deduction to ‘Interest Income’ earned by SBI Officers Co-op. Credit Society Ltd on deposits placed with SBI [Read Order]")
Interest Income from Depositing Share Capital in FDs with Bank under constraint is Capital Receipt: ITAT [Read Order]
Hyderabad bench of Income Tax Appellate Tribunal recently held that interest income earned from deposits of share capital as fixed deposits in bank should be considered as capital receipt which is not...
![Interest Income from Depositing Share Capital in FDs with Bank under constraint is Capital Receipt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Sale-of-Shares-Tax-Scan.jpg "Interest Income from Depositing Share Capital in FDs with Bank under constraint is Capital Receipt: ITAT [Read Order]")