Supreme Court · 2018 INSC 401 · Decided 24 April 2018
Deputy Commissioner of Income Tax, CHENNAIT. Jayachandran v. T. Jayachandran
- Court
- Supreme Court of India
- Citation
- 2018 INSC 401 · [2018] 5 S.C.R. 619
- Case number
- CIVIL APPEAL No. 4341/2018
- Decided
- 24 April 2018
- Bench
- R.K. AGRAWAL, NAVIN SINHA (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
Income Tax Act, 1961 - Additional interest - Respondent, an approved broker for Indian Bank - Case of revenue was that Indian Bank raised its funds by way of receiving amount from the PSU and making fixed term deposit on higher rate of interest - In order to pay higher to purchase securities on its behalf - Thereafter, respondent purchased securities at a particular rate quoted by the bank and was paid commission in respect of transactions done on behalf of Indian Bank - Under instructions from Indian Bank, a portion of amount realised from
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)