Income from discontinued business - income of interest received ...

Income Tax

August 14, 2019

Income from discontinued business - income of interest received on advances - in view of the provision of Sec. 176(3A) it is clear that the interest income on advances is to be assesseed as business income and the lower authority has failed to consider the provision of Sec. 176(3A) which deal with the income from discontinued of business

View Source

← Previous Next →

Income from discontinued business - income of interest received ...

Income Tax

August 14, 2019

You may also like:

Discontinuance of business - Taxable Income u/s 176(3A) - total income of the assessee under Section 176 (3A), can not be reduced to 12.5% as net taxable profit - HC

Deduction on the payments of interest to partners u/s 40(b) - when income was taxed u/s 176 (3A) - as per Section 176(3A) income received subsequent to the...

Income received after dissolution of firm - the amount was assessable in the hands of the assessee-firm in the year of receipt despite dissolution and discontinuance of...

Speculation loss - purchase and sale of shares - provisions of Explanation to Sec. 73 will not be applied where the principal business of the assessee is that of...

Discontinued business u/s 176 - addition on account of receipt of arrears of professional fees - Discontinuation from legal profession - Not taxable - AT

Levy of interest u/s 234B and 234C - Liability of advance tax - income from partnership firm in the hands of partner - As per the provisions of Sec. 10(2A) of the Act,...

Assessment of notional interest on loans - loan has been granted by the assessee to its sister concern - As per the provisions of Sec. 36(1)(iii) AO could have...

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

Valuation - inclusion of notional interest on advances received - they did not extend this cash discount to those dealers who are not making advance payment - additions...

Time of supply - Absolute control of the money received in advance - The law is crystal clear that once any advance amount is received towards provision of any service...

Quick Updates: