https://www.taxtmi.com/caselaws?id=71532 Income from activities incidental to banking, such as MSEB bill collection and investments in Government and Trustee securities, was treated as attributable to banking business and eligible for deduction, while compensation for use of a guest-house and premises lacked the required banking nexus and was treated as non-banking income. Miscellaneous receipts from sale of old newspapers, stationery charges and telephone recovery were also treated as ancillary to banking operations. On the interest issue, the appellate ground relating to interest under section 234B was held to require merits-based adjudication and was remanded for fresh decision. The overall result was partial relief, with the principal banking-income claims accepted and the guest-house receipt rejected. en-us Thu, 29 Oct 1998 00:00:00 +0530 Mon, 25 Apr 2011 14:42:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71532 Income from activities incidental to banking, such as MSEB bill collection and investments in Government and Trustee securities, was treated as attributable to banking business and eligible for deduction, while compensation for use of a guest-house and premises lacked the required banking nexus and was treated as non-banking income. Miscellaneous receipts from sale of old newspapers, stationery charges and telephone recovery were also treated as ancillary to banking operations. On the interest issue, the appellate ground relating to interest under section 234B was held to require merits-based adjudication and was remanded for fresh decision. The overall result was partial relief, with the principal banking-income claims accepted and the guest-house receipt rejected. Case-Laws Income Tax Thu, 29 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71532