NIMSHASKIYA MADHYANIK SHALEY KARAMCHARI SAHAKARI SANSTHA LTD.,WARDHA vs. INCOME TAX OFFICER, WARD-2, WARDHA
In the result, appeal filed by the assessee is allowed
ITA 156/NAG/2023[2017-18]Status: DisposedITAT Nagpur09 Sept 2024AY 2017-18
Bench: Shri V. Durga Rao
For Appellant: Shri Abhishek KumarFor Respondent: Shri Abhay Y. Marathe
Section 143(2)Section 56(2)(d)
FDRs are made to meet any eventuality towards repayment of deposits and share capital. The assessee has also submitted that as per section 56(2)(d) of the Act, interest by way of interest on securities is chargeable under the residuary head i.e, other sources only if the income
