Home Case Index All Cases Income Tax Income Tax + SC Income Tax - 2008 (10) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (10) TMI 13 - SC - Income TaxWhether interest earned by the assessee bank on government securities was liable to be assessed u/s 2(7) of the Interest Act – revenue contend that ITAT & HC were not justified in holding that loans & advances don’t include interest on securities, bonds, debentures & therefore not liable to tax - there is a difference between loans and advances & investments/securities - matter remanded to ITAT to examine the factual position as to whether the interest involved is on government securities only
|