Case Law Details
Case Name : M/s. Forever Diamonds Pvt. Ltd Vs Deputy Commissioner of Income Tax (ITAT Mumbai)
Related Assessment Year :
Courts :
All ITAT ITAT Mumbai
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Brief of the Case: In the cited case, ITAT held that the Assessing Officer does not have power to embark upon the fresh enquiry with regard to the entries made in the books of accounts of the Company when the accounts of an assessee Company is prepared in terms of Part II Schedule VI of the Companies Act scrutinized and certified by the statutory auditors, approved by the Company in general meeting and thereafter filed before the Registrar of Companies who has a statutory obligation also to examine and be satisfied that the accounts of the company are maintained in accordance with the requirem...
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Dear Sir,
PLS. Clarify me rg. to the following.
Our Company earned interest on fixed deposits for the FY 2014-15
Phisically credited in our account : 2,76, 000.
Accured interest 8,73,000/-
Interest paid to bankers on the same fixed deposits 2,79,842.
Now my doubt is what is our actual inerest received income as income from other sources.
Regards,
Shekar
Dear Sir,
PLS. Clarify me rg. to the following.
Our Company earned interest on fixed deposits for the FY 2014-15
Phisically credited in our account : 2,76, 000.
Accured interest 8,73,000/-
Interest paid to bankers on the same fixed deposits 2,79,842.
Now my doubt is what is our actual inerest received income as income from other sources.
Regards,
Shekar