2023 (9) TMI 486

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....tapa Roychowdhury, Adv. Ms. Aratrika Ray, Adv. ...for the respondent ORDER The Court : This appeal by the revenue filed under Section 260A of the Income Tax Act, 1961 (the Act) is directed against the order 7th September, 2007 passed by the Income Tax Appellate Tribunal, 'A' Bench, Kolkata (Tribunal) in ITA No.1094/Kol/2007 for the assessment year 2004-05. The appeal was admitted on 13th Augu....

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.... Commissioner of Income Tax vs. Karnataka State Co-operative Apex Bank, 2001 (251) ITR 194 and in the case of Mehsana District Central Co-operative Bank Ltd. vs. Income-tax Officer, 2001 (251) ITR 522. In the said decision, it has been held that interest arising from investment made, in compliance with statutory provisions to enable the co-operative society to carry on banking business, out of res....