CBDT issues clarification on Continuation of Concessional Rate of Tax on Interest Income of FPIs
The Central Board of Direct Taxes (CBDT) issued the clarification on the continuation of the concessional rate of tax on interest income of Foreign...
![ITAT directs AO to allow Expenditure incurred at Head Office except director Salary against Interest Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-AO-expenditure-interest-income-Taxscan.jpg "ITAT directs AO to allow Expenditure incurred at Head Office except director Salary against Interest Income [Read Order]")
![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]")
![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]
The Income Tax Appellate Tribunal (ITAT) deleted the addition of alleged long-term Capital Gains and estimated commission as revenue failed to dislodge assessee’s claim. The assessees being...
![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...