https://www.taxtmi.com/caselaws?id=278952 The High Court held that the bank was not engaged in real property trading and that the sum of Rs. 27,694 was not fully assessable as income. It determined that profit from the sale of properties acquired in court sales was part of the bank's money-lending business income, while profit from a property purchased for the bank's own use was not. Consequently, only Rs. 14,357-11-9 out of the total sum was deemed assessable to tax. The Court did not award costs as neither party entirely prevailed. en-us Tue, 23 Aug 1960 00:00:00 +0530 Tue, 26 Feb 2019 16:35:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278952 The High Court held that the bank was not engaged in real property trading and that the sum of Rs. 27,694 was not fully assessable as income. It determined that profit from the sale of properties acquired in court sales was part of the bank's money-lending business income, while profit from a property purchased for the bank's own use was not. Consequently, only Rs. 14,357-11-9 out of the total sum was deemed assessable to tax. The Court did not award costs as neither party entirely prevailed. Case-Laws Income Tax Tue, 23 Aug 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278952