COMMISSIONER OF INCOME TAX Vs. RAMANATHAPURAM DISTT CO OP CENTRAL BANK LIMITED

JUDGEMENT

(1.) The High Court has answered against the revenue, the following question :

(2.) The very question was considered by this Court in CIT V/s. Karnataka State Co-operative Apex Bank, 2001 251 ITR 1941 and the conclusion was reiterated in Mehsana District Central Co-operative Bank Ltd. V/s. ITO, 2001 251 ITR(SC) 5222.

(3.) It is now contended on behalf of the revenue that the decision of this Court in United Commercial Bank Ltd. V/s. CIT, 1957 32 ITR 688 was not considered.