Supreme Court of India
The Commissioner of Income Tax, Kolhapur v. Icici Bank Ltd.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
From the headnote
Interest Tax Act, 1974 - s.2(7) - Interest on government securities - Taxability of - Held: In view of Supreme Court's c decision in Corporation Bank's case*, interest earned on gov ernment securities was held not taxable - In the instant case, dispute between revenue and assessee as to whether, inter est earned was on government securities -Factual position as to nature of interest involved required to be examined by 0 Tribunal. ~ The question which arose for consideration in these appeals is whether Tribunal and High Court were justi fied in holding that the interest earned by assessee…
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