Interest Income on RBI Bonds Not Exempt: Does Not Qualify as Trade or Business u/ss 2(15), 11, and 12.

Exemption under sections 11 & 12 denied - earning interest income on RBI Bonds - the activity of depositing money in the bank and earning interest would not constitute trade, commerce or business within the meaning of section 2(15) r.w. proviso thereof. - AT .....

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