ITA No.127 of 2009 (O&M) IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. ITA No.127 of 2009 (O&M) Date of decision: 5.8.2009 Commissioner of Income Tax, Panchkula -----Appellant Vs. Haryana Livestock Development Board, Panchkula -----Respondent CORAM:- HON'BLE MR JUSTICE ADARSH KUMAR GOEL HON'BLE MRS. JUSTICE DAYA CHAUDHARY Present:- Mr. Yogesh Putney, Sr.Standing Counsel for the revenue. Mr. Rameshwar Malik, Addl.A.G.Haryana for the respondent. Adarsh Kumar Goel,J. The revenue has preferred this appeal under section 260A of the Income Tax Act, 1961 (in short, ‘the Act’) against order dated 18.8.2008 of the Income Tax Appellate Tribunal, Chandigarh Bench (B) Chandigarh passed in ITA No.576/CHANDI/2008 for the assessment year 2005-06, proposing to raise following substantial questions of law:- “a) Whether in the facts and circumstances of the case, the Hon’ble ITAT was right in holding 1 ITA No.127 of 2009 (O&M) that the interest income derived by the assessee on bank deposits earned by the assessee are exempt under section 11(1)(a) whereas there is no material evidence on record that there was a ‘legal obligation’ within the meaning of explanation (1) to Section 13 of the Income Tax Act, 1961? b) Whether in the facts and circumstances of the case the Hon’ble ITAT was right in holding that interest on bank deposits is exempt under section 12(1) even though these are not voluntary contributions, as required under section 12(1) of the Income Tax Act, 1961?” Learned counsel for the revenue does not dispute that the matter is covered by order of this Court dated 15.12.2008 in ITA No.609 of 2007 (The Commissioner of Income Tax, Panchkula v. M/s Haryana CM Relief Fund, Chandigarh). Accordingly, this appeal is dismissed. (Adarsh Kumar Goel) Judge August 5, 2009 (Daya Chaudhary) ‘gs’ Judge 2