https://www.taxtmi.com/caselaws?id=71780 Collection charges were treated as deductible in computing income from property, since they were an outgoing not shown to have been allowed under another head and were directed to be allowed in accordance with law. Locker rent received by a co-operative bank was held not to qualify for exemption under section 80P, because income from providing lockers or safe deposit facilities does not form part of banking business or provision of credit facilities to members. The permissive scope of the Banking Regulation Act did not convert locker hire into banking income. The assessee therefore obtained only partial relief, succeeding on the collection-charges issue but failing on the locker-rent exemption claim. en-us Mon, 15 Jul 1985 00:00:00 +0530 Wed, 27 Apr 2011 10:21:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71780 Collection charges were treated as deductible in computing income from property, since they were an outgoing not shown to have been allowed under another head and were directed to be allowed in accordance with law. Locker rent received by a co-operative bank was held not to qualify for exemption under section 80P, because income from providing lockers or safe deposit facilities does not form part of banking business or provision of credit facilities to members. The permissive scope of the Banking Regulation Act did not convert locker hire into banking income. The assessee therefore obtained only partial relief, succeeding on the collection-charges issue but failing on the locker-rent exemption claim. Case-Laws Income Tax Mon, 15 Jul 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71780