https://www.taxtmi.com/caselaws?id=34649 Interest received by a banking company on securities was treated as outside the charge of interest-tax under the Interest-tax Act, 1974. The Karnataka HC applied the settled distinction between loans and advances, on the one hand, and investments or securities, on the other, and accepted that the statutory scheme did not extend interest-tax to such securities income for the relevant assessment years. The question was answered in favour of the assessee and against the Revenue. en-us Wed, 27 Feb 2008 00:00:00 +0530 Fri, 16 Sep 2011 16:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34649 Interest received by a banking company on securities was treated as outside the charge of interest-tax under the Interest-tax Act, 1974. The Karnataka HC applied the settled distinction between loans and advances, on the one hand, and investments or securities, on the other, and accepted that the statutory scheme did not extend interest-tax to such securities income for the relevant assessment years. The question was answered in favour of the assessee and against the Revenue. Case-Laws Indian Laws Wed, 27 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34649