https://www.taxtmi.com/caselaws?id=71425 Commission income earned by a co-operative bank for collecting electricity bills and providing allied collection services was treated as attributable to its banking business. The reasoning was that the collection work was integrally connected with banking operations, including receiving payments, issuing receipts, crediting amounts, maintaining records, and remitting funds. The phrase "attributable to" was read more broadly than "derived from", covering income from activities incidental to the main business. On that basis, income from such ancillary collection services qualified for deduction under section 80P(1) read with section 80P(2)(a)(i). en-us Fri, 06 Apr 1990 00:00:00 +0530 Sat, 23 Apr 2011 13:27:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71425 Commission income earned by a co-operative bank for collecting electricity bills and providing allied collection services was treated as attributable to its banking business. The reasoning was that the collection work was integrally connected with banking operations, including receiving payments, issuing receipts, crediting amounts, maintaining records, and remitting funds. The phrase "attributable to" was read more broadly than "derived from", covering income from activities incidental to the main business. On that basis, income from such ancillary collection services qualified for deduction under section 80P(1) read with section 80P(2)(a)(i). Case-Laws Income Tax Fri, 06 Apr 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71425