Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
The ITAT Pune ruled on interest income from land acquisition and...
Interest income from land acquisition not taxable u/s 28 - Additions of interest income derived from fixed deposits towards joint bank guarantee confirmed.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
The ITAT Pune ruled on interest income from land acquisition and fixed deposits. Interest u/s 28 of Land Acquisition Act is not taxable based on Bombay High Court precedent. Interest from joint bank guarantee not offered by sister is taxable in taxpayer's hands. The decision favored the taxpayer on land acquisition interest but ruled against on joint bank guarantee interest.
The ITAT Pune ruled on interest income from land acquisition and fixed deposits. Interest u/s 28 of Land Acquisition Act is not taxable based on Bombay High Court precedent. Interest from joint bank guarantee not offered by sister is taxable in taxpayer's hands. The decision favored the taxpayer on land acquisition interest but ruled against on joint bank guarantee interest.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
