https://www.taxtmi.com/caselaws?id=9983 The High Court dismissed the appeal filed by the Revenue challenging the order assessing total chargeable interest significantly higher than the income declared by the assessee-company. The Court held that interest on securities cannot be considered for assessing chargeable interest under the Interest-tax Act, referencing previous judgments from the Allahabad and Bombay High Courts. The appeal was dismissed, affirming that interest on securities is not included in the definition of interest under section 2(7) of the Act. en-us Fri, 06 Jan 2006 00:00:00 +0530 Tue, 20 Sep 2011 18:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9983 The High Court dismissed the appeal filed by the Revenue challenging the order assessing total chargeable interest significantly higher than the income declared by the assessee-company. The Court held that interest on securities cannot be considered for assessing chargeable interest under the Interest-tax Act, referencing previous judgments from the Allahabad and Bombay High Courts. The appeal was dismissed, affirming that interest on securities is not included in the definition of interest under section 2(7) of the Act. Case-Laws Income Tax Fri, 06 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9983