https://www.taxtmi.com/caselaws?id=218413 Rental income from letting out property by a co-operative bank was treated as an independent exploitation of property, not as income attributable to the business of banking. Applying the statutory meaning of banking under the Banking Regulation Act and the principle that only operational income from the specified banking activity qualifies, the article states that such rental receipts do not fall within the deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961. en-us Fri, 12 Oct 2012 00:00:00 +0530 Mon, 12 Nov 2012 15:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218413 Rental income from letting out property by a co-operative bank was treated as an independent exploitation of property, not as income attributable to the business of banking. Applying the statutory meaning of banking under the Banking Regulation Act and the principle that only operational income from the specified banking activity qualifies, the article states that such rental receipts do not fall within the deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961. Case-Laws Income Tax Fri, 12 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218413