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Section 2(7) of the Interest-tax Act, 1974 - Interest - Assessee-bank claimed to have earned interest on Government securities - Tribunal held that interest on Government Securities was not chargeable to tax under section 2(7) - On appeal, High Court confirmed said order - Revenue challenged said order in instant appeal and disputed fact relating to nature of interest earned by contending that it was not earned on Government securities - Whether, in such circumstances, Tribunal was required to examine factual position as to whether interest involved in instant case was on Government securities and decide matter keeping into consideration ratio of decision of Supreme Court in CIT v. Corporation Bank [2008] 166 Taxman 388 - Held, yes CASE REFERRED TO CIT v. Corporation Bank [2008] 166 Taxman 388 (SC) [Para 4]. Mohan Prasaran, V. Shekhar, H. Raghavendra Rao, Gaurav Dhingra, D.L. Chidanandaand B.V. Balaram Das for the Appellant. Mrs. Jayashree Wad, Ashish Wad, Neeraj Kumar, Chirag S. Dav, Rajesh Kumar, Sathish Aggarwal, V. Prabhakar, Ramjee Prasad, M.K.D. Namboodiry, R.S. Suri, Chinmoy Khaladker, S.K. Nandy and Mrs. Revathy Raghavan for the Respondent. JUDGMENT Dr. Arijit Pasayat, J. - Leave granted. 2. Challenge in these appeals is to the judgment of final order passed by the Bombay High Court in a group of appeals filed by the revenue under section 260A of the Income-tax Act, 1961 ('the Act') read with section 24 of the Interest-tax Act, 1974 ('Interest Act'). Question involved was whether interest earned by the assessee bank on Government securities was liable to be assessed under section 2(7) of the Interest Act? The Income-tax Appellate Tribunal ('Tribunal') held that it was not chargeable. The High Court by the impugned judgment upheld the view of the Tribunal. The revenue filed the present appeals against the judgment of the High Court. It was submitted by learned counsel for the appellant that the Tribunal and the High Court were not justified in holding that loans and advances do not include interest on securities, bonds, debentures and therefore not liable to tax under the provisions of the Interest Act. It is submitted that interest on securities falls…

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