https://www.taxtmi.com/caselaws?id=36869 The court upheld the Tribunal's decision that the assessee-company did not qualify as an investment company under section 109(ii) of the Income-tax Act, 1961, as loans and advances were not considered investments. The court ruled in favor of the assessee, determining that the income from loans did not meet the criteria for classification as investments, as they did not result in the acquisition of income-yielding property. The assessee was awarded costs for the reference. en-us Tue, 23 Jan 1979 00:00:00 +0530 Thu, 25 Mar 2010 11:16:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36869 The court upheld the Tribunal's decision that the assessee-company did not qualify as an investment company under section 109(ii) of the Income-tax Act, 1961, as loans and advances were not considered investments. The court ruled in favor of the assessee, determining that the income from loans did not meet the criteria for classification as investments, as they did not result in the acquisition of income-yielding property. The assessee was awarded costs for the reference. Case-Laws Income Tax Tue, 23 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36869