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 March 2023 Year 2023 This

Allowability of interest expenses under “Income from Other ...

Income Tax

March 31, 2023

Allowability of interest expenses under “Income from Other Sources” - interest paid to SBI loan - assessee has not shown any income from the said property - In the absence of evidence from the assessee, the disallowance made by the AO does not require any interference. - AT

View Source

 


 

You may also like:

  1. Allowability of deduction u/s 36 (1) (iii) - Interest liability on loans received from the State Government - assessee is maintaining the books of accounts on...

  2. 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...

  3. TP - The benchmarking done by the assessee are based on the interest paid by it on its own borrowings of loan in foreign currency from KEXIM bank and also from State...

  4. 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

  5. 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

  6. Income from other sources - the assessee has shown bank interest under the head income from other sources and net difference of interest income earned and interest...

  7. Interest income received by the club from fixed deposit in bank cannot be form the house property and consequently this income is from other sources - there is no...

  8. Allowability of development expenses incurred in respect of land sold - assessee failed to prove that the said charges was paid for removal of encroachments have been...

  9. Allowability of deduction u/s 37(1) of the Act - Amount of service tax included with interest – expenses have direct nexus with the business operation - expense allowed - HC

  10. Revision u/s 263 - assessee had utilized the unsecured loans for non business purpose and interest paid on the same has been claimed as business expenses - matter...

 

Quick Updates:Latest Updates