Interest on deposits to be split up between its period of holding for taxation purposes

HIGH COURT OF MADRAS Infrastructure Development Finance Co. Ltd. versus Joint Commissioner of Income-tax Tax Case (Appeal) No. 2555 of 2006 October 31, 2012 JUDGMENT Mrs. Chitra Venkataraman, J.  The assessee is on appeal as against the order of the Income Tax Appellate Tribunal relating to the assessment year 1997-98. Following are the questions of law raised by the assessee:- “(1)  Whether the Income Tax Appellate Tribunal erred in holding that interest of Rs. 3,07,06,233/- was includible in the Appellant’s income for the Assessment Year 1997-98? (2)  Whether...