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2003 (3) TMI 88 - HC - Income Tax"1. Whether the Tribunal was right in holding that the amount received from the Unit Trust of India was dividend? - 2. Whether the Tribunal was right in law in holding that the income received by the assessee from the Unit Trust of India was entitled to deduction under section 80M of the Income-tax Act?" - we answer the above two questions in the affirmative, i.e., in favour of the assessee and against the Department. - "Whether the Tribunal was right in holding that an amount of Rs. 2,34,05,457 credited to the suspense account was not taxable in the assessment year in question?" - the question is answered in the affirmative, i.e., in favour of the assessee and against the Department. - "Whether the Tribunal was right in holding that the amount of Rs. 2,34,05,457 credited to the interest suspense account was taxable in the assessment year in question?" - the question is answered in the affirmative, i.e., in favour of the assessee-bank and against the Department.
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