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1. Penalty 271(1)(c) - deduction of interest out of ‘income from other sources’ - The AO has admitted the claim of interest expenditure to the extent of interest income and...

2. Disallowance of interest expenditure u/s 57 - nexus between the interest income vis-à-vis the interest expenditure - no nexus between the impugned income and interest...

3. Interest expenses claim against the interest income received - It is the nature of the business and all the expenditure incurred in earning the income is allowable...

4. Income from other sources - the assessee has shown bank interest under the head income from other sources and net difference of interest income earned and interest...

5. Income from other sources - Deduction of interest expenditure - direction of the CIT – A in restricting the deduction to the extent of income earned of term deposit -...

6. Additions towards difference in interest income between interest as per Form 26AS and interest income shown in the Return of Income - Since the alleged accommodation...

7. Claim of Expenditure at the rate of 7.5% of the interest income - Admittedly, there is no specific expenditure incurred to earn the interest income. However, incurring...

8. Estimation of notional interest income for making the disallowance out of interest expenditure - The ld. AO ought to have not over emphasized about the conduct of the...

9. Disallowance of interest expenditure - interest expenditure is wholly and exclusively for the purpose of earning interest income. - AO directed to grant the deduction of...

10. Disallowance of interest expenditure - Corresponding to interest on debit balance of partner - amounts withdrawn by the partner for the payment of income-tax from the...

11. Deduction of interest expenditure incurred on borrowed funds u/s 57 - Interest incurred on borrowed funds utilized for making investment in shares in company of...

12. Income deemed to accrue or arise in India - interest income - In these years, the interest income has accrued on the deposits kept by the assessees in HSBC bank, Geneva...

13. Interest income on loans / ICD given to subsidiaries and group concerns - Correct head of income - “income from other sources” or “income from business” as claimed by...

14. Taxability of interest of income on fixed deposits - The assessee had made fixed deposits with banks and derived interest income thereon only to recover the interest...

15. Exemption u/s 10B - apportionment of expenditure between EOU and non EOU - the processing is done by both the units, and the processing work done by the non EOU unit, by...