https://www.taxtmi.com/caselaws?id=290283 The Supreme Court held that the sum of Rs. 9,000 received as interest from Bazpur Cooperative Sugar Factory Ltd. was not covered under Section 14(3) of the Income Tax Act as it represented interest on a security deposit and not an investment. Therefore, this amount was deemed taxable income. However, the Court ruled that the sum of Rs. 51,295 received as interest on advances made to District Cooperative Development Federations was exempt under Section 14(3) as it constituted an investment to facilitate the sugar business. The appeal was disposed of with no order for costs. en-us Fri, 10 Feb 1989 00:00:00 +0530 Thu, 17 Sep 2020 17:42:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290283 The Supreme Court held that the sum of Rs. 9,000 received as interest from Bazpur Cooperative Sugar Factory Ltd. was not covered under Section 14(3) of the Income Tax Act as it represented interest on a security deposit and not an investment. Therefore, this amount was deemed taxable income. However, the Court ruled that the sum of Rs. 51,295 received as interest on advances made to District Cooperative Development Federations was exempt under Section 14(3) as it constituted an investment to facilitate the sugar business. The appeal was disposed of with no order for costs. Case-Laws Income Tax Fri, 10 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290283