https://www.taxtmi.com/caselaws?id=39645 The Tribunal determined that the securities held by the assessee were part of its stock-in-trade, making the interest income exempt under section 81 or section 80P of the Income-tax Act, 1961. Relying on precedent, the Tribunal found that the securities were part of the bank's circulating capital and business income, thus qualifying for exemption. The Tribunal upheld the Income-tax Officer's orders based on relevant circulars and directed the Commissioner to pay the costs to the assessee, setting aside the Additional Commissioner's order. en-us Thu, 22 Aug 1974 00:00:00 +0530 Mon, 19 Apr 2010 12:38:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39645 The Tribunal determined that the securities held by the assessee were part of its stock-in-trade, making the interest income exempt under section 81 or section 80P of the Income-tax Act, 1961. Relying on precedent, the Tribunal found that the securities were part of the bank's circulating capital and business income, thus qualifying for exemption. The Tribunal upheld the Income-tax Officer's orders based on relevant circulars and directed the Commissioner to pay the costs to the assessee, setting aside the Additional Commissioner's order. Case-Laws Income Tax Thu, 22 Aug 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39645