Bench: V.V.S.RAO,RAMESH RANGANATHAN
reassessment proceedings, the order of the assessing officer was reversed, and the Income Tax Appellate Tribunal (ITAT) referred the matter to the High Court under Section 66(1) of the 1922 Act. The Revenue argued that moneys laid out in deposit in other banks stand apart and, therefore, do not get the benefit of exemption. Repelling the submission, the unanimous