![Interest from Deposits made out of Surplus Fund from Business Receipt is assessable as Business Income, not as ‘Other Income’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Business-Income-Taxscan.jpg "Interest from Deposits made out of Surplus Fund from Business Receipt is assessable as Business Income, not as ‘Other Income’: ITAT [Read Order]")
Interest from Deposits made out of Surplus Fund from Business Receipt is assessable as Business Income, not as ‘Other Income’: ITAT [Read Order]
The Income Tax Appellate Tribunal in the case of ACIT vs. M/s. Agri Gold Constructions Pvt. Ltd. decided that interest from deposits made out of...
![Interest u/s 234 for Default in Payment of Advance Tax to be Levied till date of Passing Revisional order: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/01/Advance-Tax-Taxscan.jpg "Interest u/s 234 for Default in Payment of Advance Tax to be Levied till date of Passing Revisional order: Kerala HC [Read Judgment]")
![Finance Charges from Hire Purchase of Vehicles are subject to Interest Tax Act: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/05/Interest-Taxscan.jpg "Finance Charges from Hire Purchase of Vehicles are subject to Interest Tax Act: Kerala HC [Read Judgment]")
![No Addition since Interest has Accrued to the Assessee but has not been Realized: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Ahmedabad.jpg "No Addition since Interest has Accrued to the Assessee but has not been Realized: ITAT [Read Order]")
Assessee is Eligible for Interest on Excess Amount Paid on Self-Assessed Tax: Kerala HC [Read Judgment]
A two-judge bench of the Kerala High Court in The Commissioner of Income-Tax, Thiruvananthapuram v. The Kerala Minerals And Metals Ltd, held that the assessee would be entitled to the interest on the...
![Assessee is Eligible for Interest on Excess Amount Paid on Self-Assessed Tax: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/01/Kerala-High-Court-Taxscan.jpg "Assessee is Eligible for Interest on Excess Amount Paid on Self-Assessed Tax: Kerala HC [Read Judgment]")
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 business income, even if its application for Non-Banking...
![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 Expenses can’t be disallowed When Assessee had enough Own Funds which was more than Investments which yielded Tax Free Income: ITAT [Read Order]
Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently held that interest expenses can’t be disallowed when assessee had own funds which was more than the investments yielded tax free income. ...
![Interest Expenses can’t be disallowed When Assessee had enough Own Funds which was more than Investments which yielded Tax Free Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/07/Interest-Rates-on-Small-Saving-Schemes.jpg "Interest Expenses can’t be disallowed When Assessee had enough Own Funds which was more than Investments which yielded Tax Free Income: ITAT [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]")
Interest Expenditure on Borrowed Funds is not allowable since Assessee deposited the same in Banks as FDs: ITAT [Read Order]
Bangalore bench of Income Tax Appellate Tribunal (ITAT) recently held that the interest expenditure on borrowed funds is not allowable under the provisions of the Income Tax Act since the same was not...
Interest from Loan given to Sister Concern can’t be Set Off against Interest Paid to Bank: Kerala HC [Read Judgment]
High Court of Kerala recently declared that interest from loan given to sister concern cannot be set off against the interest paid by the assessee to his benkers for the purpose of eligible deduction...
![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...