https://www.taxtmi.com/caselaws?id=161004 Interest earned by a co-operative bank on government securities and other approved securities, including investments made out of reserve funds and excess statutory liquidity ratio holdings, was treated as attributable to the business of banking because the funds remained part of the bank's circulating capital and were deployed in the course of banking operations. Income from such statutory and approved investments was therefore not treated as a separate investment source, and deduction was allowed under section 80P(2)(a)(i) of the Income-tax Act, 1961. The assessee's entitlement to the deduction on this interest income was upheld. en-us Wed, 15 Jul 2009 00:00:00 +0530 Wed, 05 Nov 2014 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161004 Interest earned by a co-operative bank on government securities and other approved securities, including investments made out of reserve funds and excess statutory liquidity ratio holdings, was treated as attributable to the business of banking because the funds remained part of the bank's circulating capital and were deployed in the course of banking operations. Income from such statutory and approved investments was therefore not treated as a separate investment source, and deduction was allowed under section 80P(2)(a)(i) of the Income-tax Act, 1961. The assessee's entitlement to the deduction on this interest income was upheld. Case-Laws Income Tax Wed, 15 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161004