Interest on FDR can be treated as Income from Other Sources under Sec 56, If claim of 80P got rejected: ITAT [Read Order]

Interest - FDR - income from other sources - ITAT - taxscan

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) comprising Shri P M Jagtap, vice president and Ms Suchitra Kamble, the judicial member has held that interest in FDR can be treated as income from other sources under section 56 if the claim of 80P got rejected. The assessee, Shri Kalyan Co-op Credit Society…

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