https://www.taxtmi.com/caselaws?id=9664 The court held that 'interest on securities' is not chargeable to interest-tax under the Interest-tax Act for the assessment year 1995-96. The appellant's argument that the exclusionary clause deletion brought it within the scope of "interest on loans and advances" was rejected. The court relied on a judgment of the Division Bench of the Bombay High Court, emphasizing the distinction between investments and advances in banks' balance sheets. The appeal was dismissed, with no order as to costs. en-us Wed, 05 Apr 2006 00:00:00 +0530 Sun, 28 Jun 2009 13:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9664 The court held that 'interest on securities' is not chargeable to interest-tax under the Interest-tax Act for the assessment year 1995-96. The appellant's argument that the exclusionary clause deletion brought it within the scope of "interest on loans and advances" was rejected. The court relied on a judgment of the Division Bench of the Bombay High Court, emphasizing the distinction between investments and advances in banks' balance sheets. The appeal was dismissed, with no order as to costs. Case-Laws Income Tax Wed, 05 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9664