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1997 (8) TMI 98 - AT - Income TaxExtract: ....... on securities is not liable to be taxed under the provisions of the Interest-tax Act, 1991. Hence, we hold that the authorities below are not justified in bringing the interest on securities received by the assessee to tax under the Interest-tax Act in all the above three years. Their orders are reversed. 7. In the result, the appeals are allowed.
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