![Interest u/s 234B can be levied on failure to Pay Advance Tax in respect of AMT: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/07/Interest-Rates-on-Small-Saving-Schemes.jpg "Interest u/s 234B can be levied on failure to Pay Advance Tax in respect of AMT: ITAT [Read Order]")
Interest u/s 234B can be levied on failure to Pay Advance Tax in respect of AMT: ITAT [Read Order]
A bench comprising Vijay Pal Rao (JM) and Vikram Singh Yadav (AM) of Income Tax Appellate Tribunal (ITAT) recently declared that Interest u/s 234B of...
![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]](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 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 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...
![Interest Income from Nationalized Banks is Business Income, Eligible for 80-P Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Business-Income-Taxscan.jpg "Interest Income from Nationalized Banks is Business Income, Eligible for 80-P Deduction: ITAT [Read Order]")
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...
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...