Home Highlights June 2013 Year 2013 This

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1. Income from the nature of interest received by the assessee in DRDO/ISRO accounts (for short ‘FD A/cs’) - the assessee, DRDO/ISRO are either Government Departments or...

2. Addition on account of cash deposit to the bank account of the assessee - assessee is consistently submitting that the assessee has two bank accounts in her name and the...

3. Interest income - zero coupon money - interest earned by investing the surplus share money in bank deposits, such interest is taxable as income from other sources and...

4. On money receipts - additions based on the disclosure made before the Settlement Commission, however, the application was rejected by the commission - As a settled...

5. 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...

6. Treatment to grant and the interest earned thereon as income of the Appellant-society - When the assessee is held as a custodian and the full command for utilization of...

7. Accrual of interest income - Assessee claims that no real income accrued to the company and merely as the assessee is following mercantile system of accounting it does...

8. 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...

9. 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...

10. Addition on account of interest on seed money - CIT(A) that where any amount has actually paid by the assessee to the State Government that would be allowed as...

11. Characterization of receipts - Treatment of interest income from staff loans and advances, interest income from other loans and advances and miscellaneous income -...

12. Income from undisclosed sources - addition of agricultural income - Assessment of agricultural income declared by the assessee for various assessment years was...

13. Computing value of perquisites u/s 17(2) - residential accommodation - Merely because assessee is a body or undertaking owned or controlled by the Central Government, it...

14. Accrual of income - Addition made to the income of the assessee received by the assessee from “JDS” and its associates, treated as own income of the assessee - Despite...

15. 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...