Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Page of 4803
Press 'Enter' after typing page number.
1181 to 1200 of 96046 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Deduction under section 80-IAB extends to interest earned on unutilised business funds compulsorily placed in fixed deposits, including deposits made at the insistence of financial institutions, where the interest is treated as business income rather than income from other sources. Expenditure disallowance under section 14A read with rule 8D cannot exceed the exempt income earned. Accordingly, the deduction for qualifying fixed-deposit interest was upheld, and the disallowance relating to exempt income was restricted to the amount of exempt income.
Deduction under section 80-IAB extends to interest earned on unutilised business funds compulsorily placed in fixed deposits, including deposits made at the insistence of financial institutions, where the interest is treated as business income rather than income from other sources. Expenditure disallowance under section 14A read with rule 8D cannot exceed the exempt income earned. Accordingly, the deduction for qualifying fixed-deposit interest was upheld, and the disallowance relating to exempt income was restricted to the amount of exempt income.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
