Supreme Court · 2008 INSC 1140 · Decided 13 October 2008
The Commissioner of Income Tax-Kolhapur v. The Ratnakar Bank LTD.
- Court
- Supreme Court of India
- Citation
- 2008 INSC 1140 · [2008] 14 S.C.R. 373
- Case number
- CIVIL APPEAL No. 6088/2008
- 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 Section 260A
Headnote
Interest Tax Act, 197 4 - s. 2(7) rlw s.4 - Chargeable inter- est - Interest on Government securities - Distinction between c investment/securities and loans/advances - Supreme Court decision in Corporation Bank's case that interest earned by assessee-bank on chargeable to tax under s.2(7) - Applicability of Dispute arose as to whether interest earned by the D assessee (Respondent-bank) on government securities was chargeable to tax under s.2(7) of the Interest Tax Act, 1974. The Income Tax Appellate Tribunal held that it was not chargeable. The order
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)