FDRs Interest was business income but not contract income. Interest on Margin Money deposits for bank guarantee is not income out of contract business
June 19, 2016
Income Tax, ITAT, Judgments
FDRs Interest was business income but not contract income. Interest on Margin Money deposits for obtaining bank guarantee is not income out of contract business-ITAT upheld CIT order u/s 263 ABCAUS Case Law Citation: 951 2016 (06) ITAT Assessment Year – 2009-10 Date/Month of Judgment/Order: June 2016 Brief Facts …