https://www.taxtmi.com/caselaws?id=27054 The High Court of Karnataka ruled against the assessee, holding that interest credited to a suspense account is chargeable to tax under the Interest-tax Act. The court emphasized the need for consistent tax treatment and suggested appeals be directed to the Board. The decision was influenced by a previous case involving Corporation Bank Ltd. and considered conflicting judgments from different High Courts. The court highlighted the importance of further investigation by the Tribunal to determine the aggregate interest amounts subject to tax. en-us Tue, 11 Jun 1985 00:00:00 +0530 Wed, 10 Feb 2010 14:06:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27054 The High Court of Karnataka ruled against the assessee, holding that interest credited to a suspense account is chargeable to tax under the Interest-tax Act. The court emphasized the need for consistent tax treatment and suggested appeals be directed to the Board. The decision was influenced by a previous case involving Corporation Bank Ltd. and considered conflicting judgments from different High Courts. The court highlighted the importance of further investigation by the Tribunal to determine the aggregate interest amounts subject to tax. Case-Laws Income Tax Tue, 11 Jun 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27054