Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2015 Year 2015 This

Accrual of interest on refundable share application money - ...

Income Tax

September 19, 2015

Accrual of interest on refundable share application money - selection of assessment year - interest income has accrued only in the Assessment Year 1993-1994 and was taxable in that year only and not in the Assessment Year 1992-1993 - SC

View Source

 


 

You may also like:

  1. Assessment of accrued interest on investment – when the amount of unsecured load is converting into share application money and shares have been allotted, no interest...

  2. Unexplained cash credit u/s 68 - share application money - amount was received during the earlier years - entries made during the current year for converting deposits...

  3. Share application money cannot be equated with share capital and interest paid on share application money pending its allotment is allowable as revenue expenditure

  4. Capital gains on transfer of shares - sale versus agreement to sale - selection of assessment year - Tribunal committed error in law in holding that Section 2 (47) (vi)...

  5. Non-refundable portion of Advance Fee received for coaching - Income/ Revenue Recognition - only that part of the receipt is taxable in this year which accrued to the...

  6. Interest on sticky advances – accrual of income - provision of interest on doubtful debts - the interest income relatable to NPA advances did not accrue to the assessee - AT

  7. Setoff of public issue expenses with Interest accrued - Respondent was statutorily required to keep the share application money in the bank till the allotment of shares...

  8. Accrual of income - Income from advance license benefit - income does not accrue in the year of export but in the year in which the imports are made - HC

  9. Share application money received - No evidence has been brought on record by the Assessing Officer to prove that the share application money emanated from the coffers of...

  10. Accrual of income - Interest on FDs under Restraint Order - the lower authorities has committed an error in bringing the interest accrued on FD which is subject to...

 

Quick Updates:Latest Updates