KUMBAKONAM BANK LIMITED Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE petitioner-bank is a public limited company deriving income from interest on securities, business in banking and from other sources. For the assessment year 1962-63, the bank received a sum of Rs. 5,476 towards interest on the following securities issued by the Mysore Government.

(2.) WHETHER the method of computation of net interest from tax-free securities adopted by the Income-tax Officer was correc ?"