Loan advisory fees taxable in year of receipt itself & not over loan term, if not refundable in any case

IN THE ITAT MUMBAI BENCH ‘L’ Deputy Director of Income-tax, (International Taxation) 2(1), Mumbai versus Toronto Dominion Bank Ltd. IT APPEAL NOS. 8465, 8466, 8483 & 8484 (MUM.) OF 2004 [ASSESSMENT YEARS 2000-01 & 2001-02] AUGUST 8, 2012 ORDER R.S. Syal, Accountant Member These four cross appeals relating to the assessment years 2000-2001 and 2001-2002 involve common issues. For the sake of convenience, these have been clubbed for disposal by a consolidated order. Assessment Year 2000-2001 2. The assessee is aggrieved against the sustenance of disallowance ...