https://www.taxtmi.com/caselaws?id=26796 The High Court of Karnataka ruled that the amortized interest on Zamindari Abolition Bonds held by a bank was not taxable income for assessment years 1967-68 and 1968-69. However, the portion of annual repayment representing interest was deemed taxable under the Income-tax Act, while the portion representing capital was not taxable. The court upheld the Tribunal's decision in both cases, directing each party to bear their own costs. en-us Thu, 08 Feb 1979 00:00:00 +0530 Mon, 08 Feb 2010 15:13:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26796 The High Court of Karnataka ruled that the amortized interest on Zamindari Abolition Bonds held by a bank was not taxable income for assessment years 1967-68 and 1968-69. However, the portion of annual repayment representing interest was deemed taxable under the Income-tax Act, while the portion representing capital was not taxable. The court upheld the Tribunal's decision in both cases, directing each party to bear their own costs. Case-Laws Income Tax Thu, 08 Feb 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26796