2016 (12) TMI 1909

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..... , learned Counsel assisted by Sri Manu Ghildyal, learned counsel for the appellant and Sri Ashish Bansal, learned Counsel for the assessee. 2. This is an appeal filed by the department under Section 206-A of the Income Tax Department, 1961 against an order of the Tribunal dated 14.01.2016. The questions of law sought to be answered are hereunder:- "(A) Whether on the facts and circumstances of .....

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..... Hon'ble Apex Court in the case of Totgar's Cooperative Sale Society Ltd. v. Income Tax Officer : (2010) 322 ITR 283 (SC) wherein it was clearly spelt out by the Apex Court that the investment in securities is not a primary object of the cooperative credit society and the objects of the society do not provide for investment of money in post office or bank and thereby earned interest. Any s .....

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