https://www.taxtmi.com/caselaws?id=70871 Commission earned by a co-operative bank for collecting fertiliser sale funds in the course of authorised banking activity is attributable to banking business and qualifies for deduction under section 80P(2)(a)(i). Recoveries of house rent, court fees, godown keeper salary, telephone charges and miscellaneous expenses constitute reimbursement of expenditure, not independent taxable income. Where the co-operative bank's relevant income is wholly exempt, disallowance of gratuity provision, contribution to a co-operative union and depreciation on securities cannot be sustained as relating to taxable income, particularly where the accounts do not identify them with taxable income categories. en-us Tue, 06 May 1986 00:00:00 +0530 Tue, 19 Apr 2011 17:41:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70871 Commission earned by a co-operative bank for collecting fertiliser sale funds in the course of authorised banking activity is attributable to banking business and qualifies for deduction under section 80P(2)(a)(i). Recoveries of house rent, court fees, godown keeper salary, telephone charges and miscellaneous expenses constitute reimbursement of expenditure, not independent taxable income. Where the co-operative bank's relevant income is wholly exempt, disallowance of gratuity provision, contribution to a co-operative union and depreciation on securities cannot be sustained as relating to taxable income, particularly where the accounts do not identify them with taxable income categories. Case-Laws Income Tax Tue, 06 May 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70871