https://www.taxtmi.com/caselaws?id=219979 Interest earned by a co-operative bank on deposits of non-SLR surplus or idle funds remains attributable to its banking business when such funds are deployed as circulating capital and remain readily available for banking needs. The distinction between SLR and non-SLR funds does not change the character of the income for deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961. On that principle, the interest from such deposits qualifies as business income of the co-operative bank and is deductible under the provision. en-us Wed, 07 Nov 2012 00:00:00 +0530 Fri, 04 Jan 2013 11:39:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219979 Interest earned by a co-operative bank on deposits of non-SLR surplus or idle funds remains attributable to its banking business when such funds are deployed as circulating capital and remain readily available for banking needs. The distinction between SLR and non-SLR funds does not change the character of the income for deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961. On that principle, the interest from such deposits qualifies as business income of the co-operative bank and is deductible under the provision. Case-Laws Income Tax Wed, 07 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219979