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No Income Tax on Interest-Free Refundable Project Deposit: Andhra Pradesh HC
Case Law Details
- Case Name
- Coastal Ceramics and Clay Works Private Ltd Vs Union of India (Andhra Pradesh High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Andhra Pradesh HC
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Coastal Ceramics and Clay Works Private Ltd Vs Union of India (Andhra Pradesh High Court)
Introduction: The case of Coastal Ceramics and Clay Works Pvt Ltd vs Union of India, adjudicated by the Andhra Pradesh High Court, revolves around the taxation implications of a Rs.50.00 lakhs refundable security deposit received by Coastal Ceramics from M/s. Royal Mindz Infra Ltd. under a Development Agreement. The central argument is whether this interest-free deposit is subject to income tax under the head “Income from other sources” for the Assessment Year 2019-20.
Detailed Analysis: The p...
Author Info
many muncipal corporation , tax , property ,taking into acount of intrest on refundable deposit . is it right .