Supreme Court · 1999 INSC 153 · Decided 1 April 1999
Orissa State Warehousing CORPN. ETC. v. Commissioner of Income Tax
- Court
- Supreme Court of India
- Citation
- 1999 INSC 153 · [1999] 2 S.C.R. 383
- Case number
- CIVIL APPEAL No. 3476/1993
- Decided
- 1 April 1999
- Bench
- M. SRINIVASAN, U.C. BANERJEE (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 10(29)
Headnote
Income Tax Act 1961, s. 10(29)-Whether interest received from banks on fixed deposits was incidental to business activities and not taxable under A B the head 'income from other sources' and thus exempt under s. 10(29)-Held, C no; exemption allowed only for income derived from letting out of Statute-Court to ascribe natural and ordinary meaning to words and not substitute own impression in place of legislative intent. D The appellant-assessees were warehousing corporations established under the Warehousing Corporation Act, 1962. Any income derived by the corporations from the
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