THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. PEROORKADA SERVICE CO-OPERATIVE BANK LTD

Appeals are allowed as indicated above

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI

iii) of the Act. Therefore, looking to the facts and circumstances of this case, we are of the view that the Assessing Officer was right in taxing the interest income indicated above, under Section 56 of the Act”. 10. The thrust of consideration in M/s. The Totgar's Co- operative Sale Society Limited is that the investment made

THE PRINCIPAL COMMISSIONER OF INCOME TAX, vs. VILAPPIL SERVICE CO-OPERATIVE BANK LTD.,

Appeals are allowed as indicated above