![Interest from deposits made with Banks is ‘Business Income’ even if Assessee’s Application for NBFC was rejected by RBI: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Business-Income-Taxscan.jpg "Interest from deposits made with Banks is ‘Business Income’ even if Assessee’s Application for NBFC was rejected by RBI: ITAT [Read Order]")
Interest from deposits made with Banks is ‘Business Income’ even if Assessee’s Application for NBFC was rejected by RBI: ITAT [Read Order]
Mumbai bench of Income Tax Appellate Tribunal (ITAT) recently held that interest income earned by an assessee should be treated under the head...
![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]")
![Interest from Loan given to Sister Concern can’t be Set Off against Interest Paid to Bank: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Kerala-High-Court-Tax-Scan.jpg "Interest from Loan given to Sister Concern can’t be Set Off against Interest Paid to Bank: Kerala HC [Read Judgment]")
Interest Income from Nationalized Banks is Business Income, Eligible for 80-P Deduction: ITAT [Read Order]
Kolkata bench of Income Tax Appellate Tribunal (ITAT) has recently held that interest income earned from nationalized banks shall be treated as business income for which deduction under Section 80P of...
No Tax when there is only a Right under the Agreement to Receive Interest without reasonable certainty of Realization of the Same: ITAT [Read Order]
While dismissing the appeals of the Revenue the Jaipur bench of Income Tax Appellate Tribunal (ITAT), has recently held that if there is only a right to receive the interest under the agreement...
![No Tax when there is only a Right under the Agreement to Receive Interest without reasonable certainty of Realization of the Same: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/05/Interest-Taxscan.jpg "No Tax when there is only a Right under the Agreement to Receive Interest without reasonable certainty of Realization of the Same: ITAT [Read Order]")
Income from Interest Received Temporarily Parked in the Banks and given as Unsecured Loan is Business Income: ITAT [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal recently announced and directed the Assessing Officer to treat the interest income temporarily parked in the banks and given as unsecured loan which...
![Income from Interest Received Temporarily Parked in the Banks and given as Unsecured Loan is Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/07/Interest-Rates-on-Small-Saving-Schemes.jpg "Income from Interest Received Temporarily Parked in the Banks and given as Unsecured Loan is Business Income: ITAT [Read Order]")
Interest from Accumulated PF balance received After Retirement is not Eligible for Exemption: ITAT rejects Techie’s plea [Read Order]
The Income Tax Appellate Tribunal recently ruled that accumulated interest from provident fund received post-retirement of the assessee is not eligible for exemption under section 10(12) of the Income...
![Interest from Accumulated PF balance received After Retirement is not Eligible for Exemption: ITAT rejects Techie’s plea [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Interest-Provident-Fund-Taxscan.jpg "Interest from Accumulated PF balance received After Retirement is not Eligible for Exemption: ITAT rejects Techie’s plea [Read Order]")
Interest Paid to Partner is Deductible if he is receiving Interest Income from Capital Contribution: ITAT Bengaluru [Read Order]
The Income Tax Appellate Tribunal, Bengaluru, last week held that if a partner is receiving interest upon the capital contributions made by him to the partner firm, then it is not liable to be taxed...
Interest Received on FDRs before the Commencement of Business constitute ‘Other Income’: HC [Read Judgment]
A division bench of the Allahabad High Court, recently ruled that the interest received on fixed deposits by the assessee before the commencement of business must be treated as ‘Income from Other...
Interest Expenses on Advances received under Sub-Lease Agreement is not Allowable when there is Defect in Title: ITAT [Read Order]
The Bengaluru ITAT, on Wednesday, confirmed the disallowance of interest expenses claimed on advances received under sub-Lease agreement since there was a defect in the title of the assessee on the...