Interest Income from FDRs can be treated as Business Income If Assessee proves that such FDR is essential/necessary for obtaining the Contract: ITAT [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT), recently held that the interest income from FDRs can be treated as business income if the assessee proves that the same is essential/necessary for obtaining the contract. The assessee claimed that FDR was used as security for obtaining the contract and was an essential condition […]

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