https://www.taxtmi.com/caselaws?id=467881 A co-operative bank under liquidation was held to have its realisations from advances, including interest and dividend receipts, diverted at source because statutory liability under the Deposit Insurance and Credit Guarantee Corporation of India Act had to be discharged first. The amounts did not come to the free disposal of the bank and therefore were not assessable as its taxable income. The impugned additions were accordingly unsustainable. en-us Fri, 05 Aug 2022 00:00:00 +0530 Wed, 08 Apr 2026 14:21:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467881 A co-operative bank under liquidation was held to have its realisations from advances, including interest and dividend receipts, diverted at source because statutory liability under the Deposit Insurance and Credit Guarantee Corporation of India Act had to be discharged first. The amounts did not come to the free disposal of the bank and therefore were not assessable as its taxable income. The impugned additions were accordingly unsustainable. Case-Laws Income Tax Fri, 05 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467881