![Delhi HC allows Interest on Refund of Interest waived by the Income Tax Dept u/s 220(2A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Delhi-High-Court-Tax-Scan.jpg "Delhi HC allows Interest on Refund of Interest waived by the Income Tax Dept u/s 220(2A) [Read Order]")
Delhi HC allows Interest on Refund of Interest waived by the Income Tax Dept u/s 220(2A) [Read Order]
In a recent ruling, the Delhi High Court held that interest can be allowed on Refund of interest Waived by the Department under section 220(2A) of the...
![SC confirms Income Tax Deduction of Interest on Loans taken for Setting up the Industry [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Supreme-Court-of-India-Taxscan-min.jpg "SC confirms Income Tax Deduction of Interest on Loans taken for Setting up the Industry [Read Order]")
![Interest on FDs Received by a Society from a Non-Member is Taxable, Principle of Mutuality does not apply: ITAT Hyderabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/05/Interest-Taxscan.jpg "Interest on FDs Received by a Society from a Non-Member is Taxable, Principle of Mutuality does not apply: ITAT Hyderabad [Read Order]")
Waiver of Interest by Financial Institutions is Assessable as income of the Amalgamating Company on availing Benefit of Sec 72A: SC [Read Judgment]
In a recent ruling, a two-judge bench of the Supreme Court categorically held that the waiver of interest by financial institutions is assessable from the hands of the Amalgamating Company on availing...
![Waiver of Interest by Financial Institutions is Assessable as income of the Amalgamating Company on availing Benefit of Sec 72A: SC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Supreme-Court-of-India-Taxscan.jpg "Waiver of Interest by Financial Institutions is Assessable as income of the Amalgamating Company on availing Benefit of Sec 72A: SC [Read Judgment]")
![Interest cannot be demanded on Unutilized CENVAT Credit Availed: CESTAT Ahmedabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Interest-CESTAT-Taxscan.jpg "Interest cannot be demanded on Unutilized CENVAT Credit Availed: CESTAT Ahmedabad [Read Order]")
Interest Expenditure Claim cannot be disallowed on Ground of Non-Payment of TDS if the payee has Offered the same for Tax: ITAT Mumbai
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) held that the disallowance under section 40(a)(ia) of the Income Tax Act will not be attracted in the case if the payee has offered for tax the...
Interest accrued on the Unrecognized Provident Fund is Taxable as ‘Income from Other Sources’: ITAT Cochin [Read Order]
In a recent ruling, the Income Tax Appellate Tribunal Cochin bench held that the interest accrued on the Provident Fund is taxable as ‘Income from other sources’ under the provisions of the Income Tax...
![Interest accrued on the Unrecognized Provident Fund is Taxable as ‘Income from Other Sources’: ITAT Cochin [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/03/Interest-Taxscan-ITAT-Cochin.jpg "Interest accrued on the Unrecognized Provident Fund is Taxable as ‘Income from Other Sources’: ITAT Cochin [Read Order]")
Disallowance of Interest u/s 14A should be made with reference to Net Interest Loan, not on Gross Interest: Bombay HC [Read Judgment]
In CIT v. Jubiliant Enterprises Pvt. Ltd, the division bench of the Bombay High Court confirmed that the disallowance of interest under Section 14A of the Income Tax Act should be made with reference...
![Disallowance of Interest u/s 14A should be made with reference to Net Interest Loan, not on Gross Interest: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Bombay-High-Court-2-Tax-Scan.jpg "Disallowance of Interest u/s 14A should be made with reference to Net Interest Loan, not on Gross Interest: Bombay HC [Read Judgment]")
Interest Paid to Seller of Securities for the broken period is Deductible from Income: Bombay HC [Read Order]
The division bench of the Bombay High Court, in CIT v. American Express Bank, held that the amount of interest paid to the seller of the securities for the broken period is deductible from the total...
![Interest Paid to Seller of Securities for the broken period is Deductible from Income: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/03/Interest-Deductible-Taxscan.jpg "Interest Paid to Seller of Securities for the broken period is Deductible from Income: Bombay HC [Read Order]")