M/S. BANGALORE CLUB vs. COMMISSIONER OF INCOME TAX

260A of the Income Tax Act, 1961 (for short “the Act”), the High Court entertained the appeal and framed the following two substantial questions of law for its adjudication :- 4 Page 5 JUDGMENT “(1) Whether, a sum of Rs. 7,87,648/- received by the assessee as interest from fixed deposit made by the assessee in four banks