Income from interest is taxable under income from other source and chargeable under section 194A
Last updated: 21 September 2012
Court :
INCOME TAX APPELLATE TRIBUNAL
Brief :
Brief facts are: Survey proceedings u/s 133Awere conducted by Income-tax department on 29-1-2004 in the office premises of Executive Engineer, Civil Construction Division-II, Dhalipur, Dehradun. It was found that vide Hon’ble Supreme Court order, assessee had paid following amounts to a contractor firm M/s Harish Chandra & Co. upon a dispute about civil construction.
Towards contractual payment Rs. 80,99,176
Towards interest Rs. 4,47,26,279
Citation :
Executive Engineer, Civil Construction Division-II, Dhalipur. (Appellant) Vs. Income Tax Officer,(TDS)-II, Dehradun. (Respondent)
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CS Bijoy
Published in Income Tax
Views : 2227
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