https://www.taxtmi.com/caselaws?id=70871 The ITAT upheld the CIT(A)'s decision in favor of the co-operative central bank, ruling that income from commission on the sale of fertilizers was deductible as part of banking activities. Additionally, reimbursements received were deemed as expenses and not taxable income. Disallowed provisions for gratuity, contribution to District Co-operative Union, and depreciation on securities were held unjustified as the bank's income was exempt under relevant sections. The ITAT dismissed the departmental appeal, affirming the CIT(A)'s decisions on all issues raised. 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 The ITAT upheld the CIT(A)'s decision in favor of the co-operative central bank, ruling that income from commission on the sale of fertilizers was deductible as part of banking activities. Additionally, reimbursements received were deemed as expenses and not taxable income. Disallowed provisions for gratuity, contribution to District Co-operative Union, and depreciation on securities were held unjustified as the bank's income was exempt under relevant sections. The ITAT dismissed the departmental appeal, affirming the CIT(A)'s decisions on all issues raised. Case-Laws Income Tax Tue, 06 May 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70871