Rebate u/s 88E - the interest earned by the assessee on the FDRs ...

Income Tax

September 16, 2016

Rebate u/s 88E - the interest earned by the assessee on the FDRs has intrinsic and inseggregable nexus with the work undertaken and, therefore, the interest earned by the assessee is capital in nature and shall go towards adjustment against the project expenditure and the same cannot be assessed as income from other sources. - AT

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Rebate u/s 88E - the interest earned by the assessee on the FDRs ...

Income Tax

September 16, 2016

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Determination of remuneration to partners u/s 40(b) - Interest income earned on the FDR of surplus funds cannot be considered as part of the income of the business - HC

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