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 January 2016 Year 2016 This

Whether the interest earned by the assessee on the fixed ...

Income Tax

January 6, 2016

Whether the interest earned by the assessee on the fixed deposits kept for managing bank guarantees during pre-operative period would reduce the cost of the capital assets? - Held Yes - HC

View Source

 


 

You may also like:

  1. Exemption from payment of income tax on interest earned - fixed deposits kept with certain banks which were corporate members of the assessee club - principle of...

  2. Assessment of the bank interest - Interest on fixed deposits in providing bank Guarantee under EPCG scheme is in the nature of capital receipt and to be set off against...

  3. Exemption u/s 11 - The interest earned on fixed deposit with banks complying with the provisions of Section 11 (5) is exempt and the proviso to Section 2( 15) has no application

  4. Revision u/s 263 - Deduction u/s 80P(2)(a)(i) - interest income was received by the assessee on deposits - section 80P(2)(d) of the Act specifically exempts interest...

  5. Deduction u/s 80-IB – interest earned by him on FDRs kept as guarantee with Electricity Department - cannot be computed for deduction u/s 80-IB - HC

  6. Nature of Interest income - first ground of appeal of the assessee for treating expenses to the amount as revenue expenditure is dismissed. However, the alternative...

  7. Denial of deduction claimed u/s 80P (2)(d) - AO disallowed the benefit by invoking the provision of section 154 for rectification of mistake change of opinion - interest...

  8. Interest earned from the unutilized capital subsidy and equity - Interest earned from the borrowed funds (short term temporary deposits) - interest from borrowed funds...

  9. Waiver of pre-deposit - tribunal directed that the Bank Guarantee may be encashed for collecting the demand of duty - order of tribunal sustained - HC

  10. Interest on FDR kept for bank guarantee to secure contract to be set off from Project expenses as capital in nature, not taxable as income from other sources

 

Quick Updates:Latest Updates