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2015 (10) TMI 378 - AT - Income TaxDisallowance u/s 40b(v)(2) - remuneration to partners was determined as per the book profit shown in profit and loss account including interest from bank FDRs and income from other sources - Held that:- It is fact that interest on FDRs comes under the head "income from other sources" and never has been part of book profit as the income computed in Chapter IV-D except that the assessee is in money lending business, interest income has not been made part of item of income taken U/s. 28 of the Act. Following decision of this Bench in case of S.P. Equipments (2009 (9) TMI 637 - ITAT JAIPUR-A ), we direct the Assessing Officer to compute the book profit including interest income on FDRs etc. as claimed. The impugned disallowance made U/s 40(b) of the Act is directed to be deleted. Hence this ground is decided in favour of the assessee.
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