https://www.taxtmi.com/caselaws?id=290283 Interest on a cash security deposit furnished under an agency agreement was not treated as exempt under Section 14(3) of the Income-tax Act, 1922 because the deposit was not an investment and the exemption could not be brought within clauses (i) or (iii); the amount was therefore taxable. Interest earned on advances made to cooperative societies for financing the sugar business was treated as exempt under Section 14(3)(iii) because the advances were made to support the business arrangement, were regarded as investment in that scheme, and the exemption provision was construed liberally to advance its object. 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 Interest on a cash security deposit furnished under an agency agreement was not treated as exempt under Section 14(3) of the Income-tax Act, 1922 because the deposit was not an investment and the exemption could not be brought within clauses (i) or (iii); the amount was therefore taxable. Interest earned on advances made to cooperative societies for financing the sugar business was treated as exempt under Section 14(3)(iii) because the advances were made to support the business arrangement, were regarded as investment in that scheme, and the exemption provision was construed liberally to advance its object. Case-Laws Income Tax Fri, 10 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290283