https://www.taxtmi.com/caselaws?id=218413 Rental income earned by a co-operative bank from letting out property is not attributable to its banking business and does not qualify for deduction under section 80P(2)(a)(i). Banking is determined by the statutory definition and permitted business activities under the Banking Regulation Act, while the deduction is confined to profits and gains operationally connected with specified banking or credit activities. Letting premises constitutes an independent property-exploitation activity rather than banking or the provision of credit facilities. Consequently, such rental income falls outside the scope of the deduction. 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 earned by a co-operative bank from letting out property is not attributable to its banking business and does not qualify for deduction under section 80P(2)(a)(i). Banking is determined by the statutory definition and permitted business activities under the Banking Regulation Act, while the deduction is confined to profits and gains operationally connected with specified banking or credit activities. Letting premises constitutes an independent property-exploitation activity rather than banking or the provision of credit facilities. Consequently, such rental income falls outside the scope of the deduction. Case-Laws Income Tax Fri, 12 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218413