Interest Income from Fixed Deposits Can be Set Off against Property Maintenance Expenses: ITAT [Read Order]

The Tribunal noted that the interest income contributed to reducing the maintenance burden on the assessee-society’s members.
By Varda Marakkar - On August 24, 2024 9:34 am - 2 mins read
Fixed Deposit Interest - Property Maintenance Expenses - ITAT Ruling - Interest Income Set Off - Ahmedabad ITAT Case - taxscan

The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) recently held in a case that interest income from fixed deposits can be set off against property maintenance expenses. The assessee/ appellant, Venus Parkland Co-operative Housing Service Society Ltd, is a society formed for maintaining the residential apartment complex named Venus Parkland in Ahmedabad, Gujarat. For…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here

Topics

taxscan-loader