2018 (11) TMI 1722 - HC - Income Tax

Transaction on behalf of the Government and interest accrued on the deposit - HELD THAT - No question of law much less substantial question of law arises for consideration in the present appeal, which requires consideration by this Court. Mr. Vinay Kuthiala, learned Senior Counsel invites our attention to the statutory provisions, which in the given facts and circumstances of the case, is not necessary to discuss, for no substantial question of law arises for consideration at all. The respondent-Board, established under Infrastructure Development Board Act, 2001, was carrying on transaction on behalf of the Government and as such, interest accrued on the deposit and the issue of accrual taxability thereupon is a question of fact, which stands correctly and completely appreciated by the authority below.

Summary

The Himachal Pradesh High Court stated that no substantial question of law arose in the appeal regarding interest accrued on a deposit by the Infrastructure Development Board. The appeal was disposed of accordingly.