Bank Charges Allowed as Expenses for Interest Income; Assessee's Claim Accepted, No Revenue Appeal Filed.

Bank Charges Allowed as Expenses for Interest Income; Assessee's Claim Accepted, No Revenue Appeal Filed. https://www.taxtmi.com/highlights?id=53501 Disallowance of bank charges as expenses while calculating the interest income - The claim of the assessee has been allowed in succeeding years by the CIT(A) against which no appeal has been filed by the Revenue. We hold that the assessee has merit in her claim; the bank charges being related to the interest income are duly allowable as expenditure in the hands of the assessee. en-us Tue, 26 May 2020 14:11:57 +0530 Tue, 26 May 2020 14:11:57 +0530 TaxTMI RSS Generator Bank Charges Allowed as Expenses for Interest Income; Assessee's Claim Accepted, No Revenue Appeal Filed. https://www.taxtmi.com/highlights?id=53501 Disallowance of bank charges as expenses while calculating the interest income - The claim of the assessee has been allowed in succeeding years by the CIT(A) against which no appeal has been filed by the Revenue. We hold that the assessee has merit in her claim; the bank charges being related to the interest income are duly allowable as expenditure in the hands of the assessee. Highlights Income Tax Tue, 26 May 2020 14:11:57 +0530 https://www.taxtmi.com/highlights?id=53501