![Interest received from FDR Taxable as ‘Other Income’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/FDR-Interest-Interest-received-from-FDR-Income-ITAT-taxscan.jpg "Interest received from FDR Taxable as ‘Other Income’: ITAT [Read Order]")
Interest received from FDR Taxable as ‘Other Income’: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the interest received from fixed deposit receipt (FDR) is taxable not as...
![Withholding of Refund of Rs. 54 Crores by Income Tax Dept: Delhi HC directs to Process Refund to KRBL with Interest [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Income-Tax-Dept-Delhi-HC-Refund-KRBL-Interest-taxscan.jpg "Withholding of Refund of Rs. 54 Crores by Income Tax Dept: Delhi HC directs to Process Refund to KRBL with Interest [Read Order]")
![Interest on Fixed Deposits being Attributable and Incidental to the Trading Business, Exemption Claimable u/s. 10AA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Interest-Fixed-Deposits-Business-ITAT-taxscan.jpg "Interest on Fixed Deposits being Attributable and Incidental to the Trading Business, Exemption Claimable u/s. 10AA: ITAT [Read Order]")
Factoring Charges are not in the Nature of Interest, TDS u/s 40(a)(ia) not Applicable: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently in an appeal filed before it, held that factoring charges are not in the nature of interest and hence that TDS u/s 40 (a) (ia)...
![Factoring Charges are not in the Nature of Interest, TDS u/s 40(a)(ia) not Applicable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Factoring-Charges-Interest-TDS-ITAT-taxscan.jpg "Factoring Charges are not in the Nature of Interest, TDS u/s 40(a)(ia) not Applicable: ITAT [Read Order]")
Claim of Interest paid to the Firm on overdrawn Capital is allowable as a Business Expense: ITAT [Read Order]
The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has held that the claim of interest paid to the firm on overdrawn capital is an allowable business expense. Bhawneshwar Kumar, the...
![Claim of Interest paid to the Firm on overdrawn Capital is allowable as a Business Expense: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Claim-interest-paid-capital-business-expense-ITAT-taxscan.jpg "Claim of Interest paid to the Firm on overdrawn Capital is allowable as a Business Expense: ITAT [Read Order]")
Attachment of Bank Account Due to Non-Payment of Interest u/s 50 of GST Act: Madras HC directs Fresh Adjudication [Read Order]
The Madras High Court, in a recent ruling, held that, revenue may redetermine the amount demanded after consideration of submissions to be made by the assessee and allowed the attachment of bank...
![Attachment of Bank Account Due to Non-Payment of Interest u/s 50 of GST Act: Madras HC directs Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Bank-Account-Non-Payment-Interest-GST-Act-Madras-HC-Fresh-Adjudication-taxscan.jpg "Attachment of Bank Account Due to Non-Payment of Interest u/s 50 of GST Act: Madras HC directs Fresh Adjudication [Read Order]")
![Interest on Income Tax not allowable as Deduction u/s 40(a)(ii): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Interest-Income-Tax-Deduction-ITAT-taxscan.jpeg "Interest on Income Tax not allowable as Deduction u/s 40(a)(ii): ITAT [Read Order]")
Failure in following specific procedure u/s 73 &74 in dispute on Liability of Interest will invalidate the Appellate Order: Jharkhand HC [Read Order]
In the case of Bluestar Malleable Pvt Ltd, the Jharkhand High Court has held that the failure in following the specific procedure under sections 73 & 74 of the Central Excise Act for dispute on...
![Failure in following specific procedure u/s 73 &74 in dispute on Liability of Interest will invalidate the Appellate Order: Jharkhand HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/liability-of-interest-appellate-order-HC-taxscan.jpeg "Failure in following specific procedure u/s 73 &74 in dispute on Liability of Interest will invalidate the Appellate Order: Jharkhand HC [Read Order]")
Interest received by Bank post Liquidation can’t be Taxed if diverted at Source as per DICGCI: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has held that Interest received by the bank post liquidation can’t e taxed if diverted at source as per the provision of the Deposit,...
![Interest received by Bank post Liquidation can’t be Taxed if diverted at Source as per DICGCI: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Interest-bank-post-liquidation-DICGCI-ITAT-taxscan.jpg "Interest received by Bank post Liquidation can’t be Taxed if diverted at Source as per DICGCI: ITAT [Read Order]")
Income Tax Return filing Due Date is Nearby: Know the Penalty / Interest Consequences of Missing the Deadline
Income tax return filing is the talk of the town nowadays as the last date for filing the return is on 31st July 2022. According to Section 139 of the Income-Tax Act, 1961, the due date for filing...
