2023 (9) TMI 486

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..... ves) - HELD THAT:- The substantial questions of law raised by the revenue have been answered in favour of the assessee and against the revenue in the case of Commissioner of Income Tax vs. Karnataka State Co-operative Apex Bank [ 2001 (8) TMI 9 - SUPREME COURT] and Mehsana District Central Co-operative Bank Ltd. [ 2001 (8) TMI 15 - SUPREME COURT] . In the said decision, it has been held tha .....

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..... ant Ms. Sutapa Roychowdhury, Adv. Ms. Aratrika Ray, Adv. for the respondent ORDER The Court : This appeal by the revenue filed under Section 260A of the Income Tax Act, 1961 (the Act) is directed against the order 7th September, 2007 passed by the Income Tax Appellate Tribunal, A Bench, Kolkata (Tribunal) in ITA No.1094/Kol/2007 for the assessment year 2004-05. The appeal wa .....

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..... e Supreme Court in the case of Commissioner of Income Tax vs. Karnataka State Co-operative Apex Bank, 2001 (251) ITR 194 and in the case of Mehsana District Central Co-operative Bank Ltd. vs. Income-tax Officer, 2001 (251) ITR 522. In the said decision, it has been held that interest arising from investment made, in compliance with statutory provisions to enable the co-operative society to carry o .....

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