SC refers issue of interest tax on investments to tribunal

Press Trust of India
Posted: Friday, Jan 02, 2009 at 2140 hrs IST
Updated: Friday, Jan 02, 2009 at 2140 hrs IST

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New Delhi: stocks would be categorised as current assets and would not fall under the category of prominent investments.

"Even according to the high court, interest earned on securities, which are current assets, may be subject to interest Act even though it did not factually ascertain the nature of securities which were involved," the department stated. ...

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