Judgement

ITAT Kolkata-Patna remands Rs 1 Crore Culver Max Entertainment income tax dispute for fresh adjudication after the JCIT(A)'s ex parte appellate order.

ITAT Remands Case Where Taxpayer Declared Section 194B Income Normally under 'Income from Other Sources' Head 

Articles

Income tax refund is not taxable, but Interest on refund is taxable under “Income from Other Sources” as per the Income-tax Act, 1961 and Income Tax Act, 2025, and must be reported in the year of receipt.

Refund in Hand, Tax in Demand: The Truth About Interest on Income Tax Refund

The ITAT Bangalore held that interest earned from temporary surplus funds is business income eligible for Section 80P deduction, not “income from other sources".

Interest earned by Cooperative society from temporary deployment Surplus business Funds eligible for Section 80P Deduction: ITAT

ITAT allowed deduction of Rs. 50.91 lakh interest expense under Section 57 after finding a clear link between the borrowed funds and the interest income earned.

Interest Expenditure Allowable u/s 57 Against Income from Other Sources

Interest on FDRs held exempt despite being shown as ‘income from other sources’; ITAT and CIT(A) faulted for mechanical approach

Delhi High Court Allows Exemption to Charitable Trust Despite Technical Error in Return

ITAT confirms that interest received under Section 28 of the Land Acquisition Act after 2010 is taxable

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ITAT Remands Case Where Taxpayer Declared Section 194B Income Normally under 'Income from Other Sources' Head

Refund in Hand, Tax in Demand: The Truth About Interest on Income Tax Refund

Interest earned by Cooperative society from temporary deployment Surplus business Funds eligible for Section 80P Deduction: ITAT

Interest Expenditure Allowable u/s 57 Against Income from Other Sources

Delhi High Court Allows Exemption to Charitable Trust Despite Technical Error in Return

ITAT: Interest on Enhanced Land Compensation Taxable as ‘Income from Other Sources’