Supreme Court · 2008 INSC 1142 · Decided 13 October 2008
The Commissioner of Income Tax, Kolhapur v. Industrial Development Bank of India LTD.
- Court
- Supreme Court of India
- Citation
- 2008 INSC 1142 · [2008] 14 S.C.R. 381
- Case number
- CIVIL APPEAL No. 7437/2004
- Decided
- 13 October 2008
- Bench
- ARIJIT PASAYAT, MUKUNDAKAM SHARMA (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Companies Act; Income Tax Act
Headnote
Interest Tax Act, 197 4 - s. 2(7) - Interest earned by as- sessee-Bank on Government Securities - Held: Is not liable c to be assessed u/s 2(7) - In the instant case, the question as to whether the interest earned was on Government Securities, is to Tribunal to decide the question - Interest not be made assessable to tax only if found to have been earned solely on Government Securities. 0 The question for consideration in the instant appeals "< was whether the interest earned by the assessee-Bank on Government Securities was
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