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TMI Blog2015 (4) TMI 404X X X X Extracts X X X X X X X X Extracts X X X X ..... ill be taxable under Section 56 of the I.T. Act in the case of government companies where there is no profit motive? - Held that:- The issue involved in the present Tax Appeal and the proposed substantial questions of law in the present Tax Appeal is squarely covered against the revenue in view of the decision of the Division Bench of this Court in the case of General Motors India P. Ltd. Vs. Depu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... DER (Per : Honourable Mr. Justice M. R. Shah) 1. Feeling aggrieved and dissatisfied with the impugned judgment and order passed by the learned Income Tax Appellate Tribunal "A" Bench, Ahmedabad (hereinafter referred to as the "Tribunal") dated 18/07/2014 in ITA No.2549/Ahd/2013 for the Assessment Year 2010-11 by which the learned Tribunal has relying upon the decision of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... holding that the interest receipt of ₹ 20,42,86,950/- is not taxable in the hands of the assessee? (B) Whether on the facts and circumstances of the case and in law, the ITAT has failed to consider the findings of the AO and the CIT(A) that the funds remained unutilized by the appellant and were parked in fixed deposits in assessee's own name on long term basis and interest income which ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te appearing on behalf of the revenue that the issue involved in the present Tax Appeal and the proposed substantial questions of law in the present Tax Appeal is squarely covered against the revenue in view of the decision of the Division Bench of this Court in the case of General Motors India P. Ltd. Vs. Deputy Commissioner of Income-tax reported in [2013] 354 ITR 244 (Guj) as well as another de ..... X X X X Extracts X X X X X X X X Extracts X X X X
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