https://www.taxtmi.com/caselaws?id=49295 The High Court ruled in favor of a banking company, allowing a rebate on the full interest amount of Rs. 44,720 received from tax-free securities. The Supreme Court affirmed this decision, stating that the notification exempting the interest from income tax was clear and unambiguous, independent of section 8 of the Income-tax Act. The Court emphasized that the notification provided a self-contained exemption for specific income without the need to refer to section 8. The bank's entitlement to the rebate on the entire interest amount was upheld, clarifying the application and scope of the notification under section 60A. en-us Tue, 23 Nov 1965 00:00:00 +0530 Mon, 18 Aug 2014 22:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49295 The High Court ruled in favor of a banking company, allowing a rebate on the full interest amount of Rs. 44,720 received from tax-free securities. The Supreme Court affirmed this decision, stating that the notification exempting the interest from income tax was clear and unambiguous, independent of section 8 of the Income-tax Act. The Court emphasized that the notification provided a self-contained exemption for specific income without the need to refer to section 8. The bank's entitlement to the rebate on the entire interest amount was upheld, clarifying the application and scope of the notification under section 60A. Case-Laws Income Tax Tue, 23 Nov 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49295