https://www.taxtmi.com/caselaws?id=213058 The court ruled in favor of the assessee bank, holding that the interest earned on deposits made from non-SLR funds was eligible for deduction under Section 80P(2)(a)(i) of the Income Tax Act. The court found that the income from such deposits was part of the normal banking business activities, in line with previous judgments. The appeal was admitted based on the substantial question of law, and the assessee was granted exemption from taxation for the assessment year 2004-05. The court rejected the appeal, emphasizing that the interest earned was directly linked to the bank's banking business. en-us Tue, 24 Apr 2012 00:00:00 +0530 Sat, 05 May 2012 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213058 The court ruled in favor of the assessee bank, holding that the interest earned on deposits made from non-SLR funds was eligible for deduction under Section 80P(2)(a)(i) of the Income Tax Act. The court found that the income from such deposits was part of the normal banking business activities, in line with previous judgments. The appeal was admitted based on the substantial question of law, and the assessee was granted exemption from taxation for the assessment year 2004-05. The court rejected the appeal, emphasizing that the interest earned was directly linked to the bank's banking business. Case-Laws Income Tax Tue, 24 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213058