https://www.taxtmi.com/caselaws?id=65075 The Tribunal ruled in favor of Punjab National Bank, holding that interest on debentures, bonds, and securities cannot be classified as "interest on loans and advances" and thus is not chargeable under the Interest Tax Act. However, the Tribunal upheld the inclusion of export subsidy as interest chargeable to Interest Tax, following precedent. The appeals were partly allowed, with the decision favoring the assessee on the debentures, bonds, and securities issue and against the assessee on the export subsidy matter. en-us Fri, 02 Aug 2002 00:00:00 +0530 Wed, 22 Feb 2012 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65075 The Tribunal ruled in favor of Punjab National Bank, holding that interest on debentures, bonds, and securities cannot be classified as "interest on loans and advances" and thus is not chargeable under the Interest Tax Act. However, the Tribunal upheld the inclusion of export subsidy as interest chargeable to Interest Tax, following precedent. The appeals were partly allowed, with the decision favoring the assessee on the debentures, bonds, and securities issue and against the assessee on the export subsidy matter. Case-Laws Income Tax Fri, 02 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65075