Treatment to grant and the interest earned thereon as income of ...

Income Tax

November 3, 2016

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 the money including interest earned thereon remains with the Government, same cannot be termed as income of the assessee - HC

View Source

← Previous Next →

Treatment to grant and the interest earned thereon as income of ...

Income Tax

November 3, 2016

You may also like:

Interest income earned by a credit cooperative society on the FDRs with nationalized bank would qualify for grant of exemption under section 80P(2) - AT

Deduction u/s 80P(2)(d) - Interest income earned by the Society comes with the category of income from other sources and Section 80P(2)(d) deals with the eligible...

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...

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...

Deduction u/s 80P(2) on interest income - To invest the deposits accepted from the members or the surplus funds available with it, is part of the banking/credit business...

Deduction u/s.11 on profits earned out of training and consultancy - the same was incidental to the attainment of the objects of the assessee society, which are...

Deduction of expenditure incurred in earning income u/s 56 - assessee is a Thrift and Credit Society - the source is inextricable to the nature of the expenditure -...

Deduction u/s 80P(2)(a) - interest income - When the assessee is wholly and exclusively doing its business for its members, the earning of interest on FDs with the banks...

Characterization of income - Determine the nature of interest income earned - mere fact that the deposits were linked with projects would not alter the character of the...

Sale of four flats constructed by the Society by utilising additional FSI available with it - treatment as business income - flats were allotted to members - receipt not...

Quick Updates: