News

GST authorities have proposed reducing Equitas Small Finance Bank’s demand from Rs 533.81 crore to Rs 23.95 crore following its submissions on exemption of interest income from loans and advances.

Equitas Small Finance Bank Limited Secures Reduction in GST Demand from Rs 533.81 Crore to Rs 23.95 Crore

Judgement

The ITAT Bangalore held that interest income attributable to business of providing credit facilities cannot be taxed as ‘Income from Other Sources’ .


ITAT Holds Interest on Bank Deposits of Credit Co-operative Society Eligible for Section 80P(2)(a)(i) Deduction

The ITAT Pune holds that interest and dividend from co-operative society investments can qualify for deduction under Section 80P(2)(d).


ITAT Holds Interest Income from Co-operative Bank Investments Eligible for Deduction Under Section 80P(2)(d)

ITAT Bengaluru remands Gowdalli V.S.S. Bank’s Rs 11.46 lakh Section 80P interest income deduction claim for fresh examination by the Assessing Officer.

Section 80P Claim: ITAT Orders Fresh Review of Rs 11.46 Lakh Interest Income Deduction

ITAT has given the taxpayer another opportunity to explain bank deposits and interest income by remanding the case for a fresh assessment.

ITAT Gives Taxpayer Fresh Chance to Explain Bank Deposits

Tribunal holds broken-period interest on NCD transfer taxable as interest income, not capital gains.

Singapore Investor Claimed Rs. 6.35 Crore Non-Convertible Debentures Gain as Tax-Free Capital Gain; ITAT Holds Broken-Period Interest Taxable as Interest Income

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