Case Law Details
Case Name : Raj Kumari Agarwal Vs DCIT (ITAT Agra)
Related Assessment Year :
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AO Must refer valuation to DVO if assessee claims that actual market value of the land or building is less than stamp duty valuation
Once the assessee claims that the actual market value of the land or building is less than stamp duty valuation adopted by the authorities, it is incumbent upon the Assessing Officer to refer the valuation of said land or building to the departmental valuation officer. In the present case, the Assessing Officer has not done so. In view of this factual position, and in the light of the discussions above, we deem it fit and proper to remit the matter to the file of...
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I think this is impossible as many cases r decided against such cases even now.
One can follow only supreme court judgement
Interest on LAD
Can Interest Paid be deducted from FD Interest received? Eg. i have FD interest of Rs. 50000 and even interest Paid on unsecured loan.
As i am a salaried person.
I have paid some interest on my OD account. i have earned interest on my FDs as well. The OD is not on the security of the FDs.
Can I set off the interest earned on FDs against the interest paid on OD?
Can expense incurred on income from other sources be more than income earned, eg. if one has earned interest income of Rs. 5000 during a year and has incurred expense of Rs. 6000 (including interest and other expense) to earn that income, so would the loss of Rs. 1000 be carried foreword.
please refer to the judgement of SUPREME COURT IN DR. V.P.GOPINATHAN VS CIT
which says gross amount of interest is taxable
thanks for above article.
CA Sandeep ji,
No doubt tax guru is very good website for taxation matters & its deign very good to post comments compared to other websites. Easy excess to any news.
This is a very important article useful for all those who have income from interest on their bank deposits. It was general belief that the interest from deposits is taxable notwithstanding any loan on the deposits. This was the opinion of Assessing Officer also.
DEar Sandepji,
Give me your personal e mail id. One professional brother wants to refer to Article Writer on Does DTTA …….. works Service Tax In India.
Regards,
C A Shah D J