https://www.taxtmi.com/caselaws?id=215426 Income from the sale of investments by a regional rural bank, together with incidental receipts, was treated as income arising from banking operations and, in principle, eligible for deduction under section 80P because dealing in investments and securities formed part of the bank's business. However, Chapter VI-A relief was unavailable for the year in question because the assessee's gross total income was nil after set-off of brought-forward losses. On that basis, no deduction could be granted despite the substantive character of the receipts, and the Revenue succeeded for the assessment year. en-us Thu, 15 Mar 2012 00:00:00 +0530 Mon, 06 Aug 2012 07:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215426 Income from the sale of investments by a regional rural bank, together with incidental receipts, was treated as income arising from banking operations and, in principle, eligible for deduction under section 80P because dealing in investments and securities formed part of the bank's business. However, Chapter VI-A relief was unavailable for the year in question because the assessee's gross total income was nil after set-off of brought-forward losses. On that basis, no deduction could be granted despite the substantive character of the receipts, and the Revenue succeeded for the assessment year. Case-Laws Income Tax Thu, 15 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215426