https://www.taxtmi.com/caselaws?id=61934 The Tribunal held that the exemption under section 28 and relevant notifications applied solely to the rebate portion of interest, not the entire interest on borrowings, in a case concerning Apex Bank loans to Central Banks for agricultural operations. The Tribunal emphasized a strict interpretation of the exemption provisions, aligning with RBI recommendations, leading to the dismissal of appeals seeking exemption for the entire interest amount received. en-us Mon, 30 Sep 1985 00:00:00 +0530 Mon, 17 Jan 2011 11:37:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61934 The Tribunal held that the exemption under section 28 and relevant notifications applied solely to the rebate portion of interest, not the entire interest on borrowings, in a case concerning Apex Bank loans to Central Banks for agricultural operations. The Tribunal emphasized a strict interpretation of the exemption provisions, aligning with RBI recommendations, leading to the dismissal of appeals seeking exemption for the entire interest amount received. Case-Laws Income Tax Mon, 30 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61934