This appeal by the Revenue against an ITAT order was dismissed. The Delhi High Court followed the Supreme Court holding that Government Securities and PSU Bonds interest is exempt from tax under the Interest Tax Act, 1974.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
$~R-45
Through: Mr.Raghvendra Singh, Senior Standing counsel with Mr.Vipul Agrawal, Junior Standing Counsel, for Revenue.
versus
M/S PNB CAPITAL SERVICES ..... Respondent Through: Mr. N.S.Ahluwalia, Mr. Salil Seth, Mr. Neeraj Malik, Advocatefor SBEC.
CORAM: JUSTICE S.MURALIDHAR JUSTICE TALWANT SINGH
"Whether the Income Tax Appellate Tribunal was correct in law in holding that the interest on Government Securities and Public Sector Undertakings Bonds is not exigible to tax under the Interest Tax Act, 1974 as amended by the Amending Act, 1991?"
S. MURALIDHAR, J.
TALWANT SINGH, J.
AUGUST 01, 2019 mr
1 issue framed by the court
Whether the Income Tax Appellate Tribunal was correct in holding that interest on Government Securities and PSU Bonds is not tax-exempt under the Interest Tax Act, 1974?
Colour shows how this judgement treated each authority
Commissioner of Income Tax v. Sahara India Savings and Investments Corporation LimitedFollowed¶13
Commissioner of Income Tax v. Sahara India Savings and Investments Corporation Limited 321 ITR 371 (SC)
Com. of Income Tax
M/S PNB Capital Services
S Muralidhar
Talwant Singh
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
