Income arising out of interest - whether cannot be taken into ...

Income Tax

August 13, 2015

Income arising out of interest - whether cannot be taken into account for the purpose of giving benefit under section 33AB as held by Tribunal? - When the assessee has paid interest of nearly ₹ 2.66 crores and has earned interest of nearly ₹ 1.88 crores, the effective debit on that side is less than ₹ 1 crore. - benefit of Section 33AB allowed - HC

View Source

← Previous Next →

Income arising out of interest - whether cannot be taken into ...

Income Tax

August 13, 2015

You may also like:

Applicability of section 33AB(7) - The provisions of section 33AB (7) uses the expression ‘being utilised’ - assessee had paid substantial portion of the proforma...

Claim of Interest u/s.36(1)(iii) - security deposits paid to director’s wife for taking her bungalow on lease - The said property had been taken on lease by the assessee...

Interest free advances and loans given to directors & sister concerns for non business purposes - Assessee had interest free funds of its own basis which addition u/s...

Conversion of shipping bills from Duty Drawback Scheme to DFIA Scheme allowed subject to reversal of benefit taken under Duty Drawback Scheme is paid by the appellant...

Deduction of interest paid for the borrowed amount used for business purpose - Loan taken from Bank given to Holding company as interest free Advance - Addition u/s...

Computation of the quantum of deduction under section 33AB - in rare cases, where a very few fortunate assessees who grow and manufacture different varieties of tea and...

Interest on credit availed - mere taking of credit which has been reversed without utilization, no liability for payment of interest or penalty would arise thereof - AT

Deduction of interest from rental income - loan was taken for the purpose of construction of house property - looking to the fact that the assessee took a housing loan...

Taxability of capital gain arising on sale of shares under the treaty provisions - AO and DRP have rejected assessee’s claim by holding that assessee being a mere paper...

For the purpose of claiming benefit of deduction of the sum paid against the liability of tax, duty; cess, fee, etc., the year of payment is relevant and is only to be...

Quick Updates: