Tax Exemption Allowable for Interest Income Received on Temporary FD: ITAT [Read Order]

Tax Exemption - Interest Income Received - on Temporary FD - ITAT - TAXSCAN

The Banglore Bench of the Income Tax Appellate Tribunal (ITAT) has held that Tax Exemption is allowable on interest income received on temporarily fixed deposits (FD). Shri Prakash Shridhar Hegde appeared for the appellant and Shri Gudimella VP Pavan Kumar appeared for the respondent.  Allstate India Private Limited, the assessee has entered into an Advance…

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