https://www.taxtmi.com/caselaws?id=10534 The High Court held that the appellant company was entitled to exemption of interest earned from specified securities under section 10(15)(iv)(h) of the Income-tax Act, 1961, irrespective of whether the securities were purchased from the market. The Court emphasized strict construction in tax law interpretation, focusing on meeting the specified conditions for exemption as outlined in the law and notifications. The judgment highlighted the importance of adhering to the plain language of statutes and notifications to determine tax liabilities and exemptions, ultimately ruling in favor of the appellant and overturning the Tribunal's decision. en-us Mon, 25 Apr 2005 00:00:00 +0530 Fri, 17 Jul 2009 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10534 The High Court held that the appellant company was entitled to exemption of interest earned from specified securities under section 10(15)(iv)(h) of the Income-tax Act, 1961, irrespective of whether the securities were purchased from the market. The Court emphasized strict construction in tax law interpretation, focusing on meeting the specified conditions for exemption as outlined in the law and notifications. The judgment highlighted the importance of adhering to the plain language of statutes and notifications to determine tax liabilities and exemptions, ultimately ruling in favor of the appellant and overturning the Tribunal's decision. Case-Laws Income Tax Mon, 25 Apr 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10534