Interest received from the bank was income in assessee's hands - ...

Income Tax

December 1, 2017

Interest received from the bank was income in assessee's hands - amount paid by the assessee as interest on the loan that he took from the bank did not reduce his income by way of interest on the fixed deposit by him in the bank - HC

View Source

← Previous Next →

Interest received from the bank was income in assessee's hands - ...

Income Tax

December 1, 2017

You may also like:

Nature of payment (expenses) made to bank for converting rupee loan into foreign currency loan - The assessee was benefited as the interest rate was reduced - held as...

Discounting the maturity value of loan portfolio on assignment to commercial banks - amount of discounted future interest received by assessee during the year is taxable...

Disallowance on interest u/s. 36(1)(iii) - AO has compared the payment of interest @ 12%/15% on the unsecured loan obtained by the assessee with the interest amount...

Disallowance of amount of interest on the amount advanced as interest-free advance & loans - Assessee on one hand is advancing interest free loans and advances to his...

Loan taken at higher interest rate than bank rate - The payment of interest to the family members and sister concern at 24% was diversion of profits - HC

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...

The ‘upfront fee’ paid to Central Bank of India on loan taken from it is allowable as a deduction from the assessee’s income. - AT

Interest subsidy received under the Technology Upgradation Fund Scheme – utilized for repayment of loans taken by the assessee to set up the new unit - held as capital...

Addition u/s 37(1) - disallowing interest provided on loan - loan was used to purchase shares - Assessee received loan in earlier years on which interest is also paid...

Addition u/s 40A(2) - assessee has paid interest to certain related parties and treated interest rate @ 15% reasonable and disallowed excess rate paid to related parties...

Quick Updates: