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2007 (7) TMI 90

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....her interest earned by the assessee-banks on dated Government securities was liable to be assessed under section 2(7) read with section 4 of the Interest- tax Act, 1974. In our view, there is a basic difference between loans and advances on the one hand and investments/securities on the other. This difference is indicated in the provisions of the Income-tax Act, the Companies Act as well as the Ba....

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