Tag: deduction u/s 57
Maintenance charges received from tenants taxable under income from other sources not house property – ITAT In a recent judgment, ITAT Bangalore has held that maintenance charges received from tenants are to be assessed under the head Income from other sources and not under income from House Property …
Deduction u/s 57(iv) allowable against Interest received on enhanced compensation for land acquisition despite assessee engaged in business of real estate. ABCAUS Case Law Citation:ABCAUS 3728 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in in rejecting the claim …
Employee Salary, legal expenses, board meeting expenses, Director sitting fees can not be attributed to Fixed Deposit interest – ITAT confirms disallowance u/s 57(iii) ABCAUS Case Law Citation:ABCAUS 3719 (2023) (04) ITAT Important Case Laws relied upon:Maruti Insurance Broking (P.) Ltd. vs DCIT 127 taxmann.com 685CIT vs. V. …
Expenditure for earning interest income allowed u/s 57(ii) as nexus between loan taken and amount invested in FDR not was doubted ABCAUS Case Law Citation:ABCAUS 3315 (2020) (05) ITAT Important case law relied upon by the parties:CIT Vs. RajendraPrasad Moody, 115 ITR 519 (SC) astern Investments Ltd. v. …
Interest on FDRs-deduction of Interest paid on unsecured loans taken to make investment in bank FDRs allowed u/s 57(iii) in view of the clear nexus. ABCAUS Case Law Citation:ABCAUS 2673 (2018) (12) ITAT Important Case Laws Cited/reliedupon:CITvs. V.P. Gopinathan (2001) 248 ITR 449 (SC) The appeal by the …
Interest on loan against FDR security not deductible u/s 57 against interest income earned on FDR on the ground of protecting interest income from fixed deposits – ITAT ABCAUS Case Law Citation: ABCAUS 2438 (2018) 07 ITAT The instant appeal was filed by the assessee against the order …
