https://www.taxtmi.com/caselaws?id=40200 Interest on Government securities received by a non-resident company is excluded from chargeable profits under clause (vi) of rule 1 of the First Schedule to the Super Profits Tax Act, because that clause specifically governs income under the head "Interest on securities." Clause (x) applies only to broader interest received by a non-resident from Government, local authority, or an Indian concern where the item is not already covered by clause (vi). The company's non-resident status does not change the character of the securities income, so the specific classification prevails and the broader clause has no application. en-us Fri, 21 Mar 1997 00:00:00 +0530 Sat, 05 Jul 2014 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40200 Interest on Government securities received by a non-resident company is excluded from chargeable profits under clause (vi) of rule 1 of the First Schedule to the Super Profits Tax Act, because that clause specifically governs income under the head "Interest on securities." Clause (x) applies only to broader interest received by a non-resident from Government, local authority, or an Indian concern where the item is not already covered by clause (vi). The company's non-resident status does not change the character of the securities income, so the specific classification prevails and the broader clause has no application. Case-Laws Income Tax Fri, 21 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40200