KAVIRAJ MAHIPAT SINGH Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) ON an application under Section 256(1) of the Income-tax Act, 1961, the Tribunal has referred the following questions for the opinion of this court:

(2.) WHETHER the learned Tribunal was correct in law in sustaining taxability of gross interest receipts from each bank instead of net interest receipts from each bank ?

(3.) FOLLOWING the view taken by the apex court, we answer all these questions in the affirmative, i.e., in favour of the Revenue and against the assessee.