Supreme Court · 2001 INSC 385 · Decided 22 August 2001
Commissioner of Income Tax, Karnataka-Iii v. Karnataka State Cooperative Apex Bank
- Court
- Supreme Court of India
- Citation
- 2001 INSC 385 · [2001] SUPP. 2 S.C.R. 35
- Case number
- CIVIL APPEAL No. 4646/2000
- Decided
- 22 August 2001
- Bench
- S.P. BHARUCHA, Y.K. SABHARWAL, ASHOK BHAN (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 80
Headnote
B Income Tax Act, 1961: Section 80-P(2)(a)(i) Assessee-Co-operative Bank-Imperative requirement to place part of funds with State Bank or Reserve Bank-Income derivedfi"omfunds so placed- C Held, such income is income derived fi"om Assessee's business-Assessee not required to pay tax make it applicable onlv to income derivedfi"om working or circulating capital. These appeals have been preferred by Revenue. The question in these D appeals is whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that the interest
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)