MANU/SC/0075/1968

IN THE SUPREME COURT OF INDIA

Decided On: 13.08.1968

Appellants: Banaras State Bank Ltd.
Vs.
Respondent: Commissioner of Income-tax, Uttar Pradesh

JUDGMENT

Shah, J.

1. Two question were referred to by the Tribunal to the High Court of Allahabad under section 66 (1) of the Indian Income-tax Act, 1922. We are concerned with the first question alone, because the second has been answered in favour of the assessee and no appeal has been filed by the revenue against the decision on that question. The question which was decided against the assessee reads as follows :

"Whether the interest on secur

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