https://www.taxtmi.com/caselaws?id=49284 The Supreme Court held that the assessee was not immune from taxation under international law post January 26, 1950, and was liable to tax. The Court rejected the claim for total exemption under the Taxation Concessions Order, stating it only scaled down tax rates. The interest from Hyderabad State securities was exempt from tax, borne by the State Government. Income from family and miscellaneous trusts was exempt from income tax but not super-tax. The Court did not address the accrual location of interest on Government of India securities. The High Court's decision was modified accordingly, with each party bearing its own costs. en-us Mon, 25 Oct 1965 00:00:00 +0530 Tue, 19 Aug 2014 14:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49284 The Supreme Court held that the assessee was not immune from taxation under international law post January 26, 1950, and was liable to tax. The Court rejected the claim for total exemption under the Taxation Concessions Order, stating it only scaled down tax rates. The interest from Hyderabad State securities was exempt from tax, borne by the State Government. Income from family and miscellaneous trusts was exempt from income tax but not super-tax. The Court did not address the accrual location of interest on Government of India securities. The High Court's decision was modified accordingly, with each party bearing its own costs. Case-Laws Income Tax Mon, 25 Oct 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49284