https://www.taxtmi.com/caselaws?id=253292 The Gujarat High Court upheld the Tribunal's decision to allow deductions on interest income related to the business of banking under Section 80P(2)(a)(i) of the Income Tax Act. The Court emphasized that investments made by an assessee, including interest income, were integral to the business of banking and thus eligible for deduction. The appellant's appeal challenging the Tribunal's decision was dismissed based on legal precedents and statutory provisions. en-us Fri, 10 Oct 2014 00:00:00 +0530 Thu, 20 Nov 2014 12:51:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253292 The Gujarat High Court upheld the Tribunal's decision to allow deductions on interest income related to the business of banking under Section 80P(2)(a)(i) of the Income Tax Act. The Court emphasized that investments made by an assessee, including interest income, were integral to the business of banking and thus eligible for deduction. The appellant's appeal challenging the Tribunal's decision was dismissed based on legal precedents and statutory provisions. Case-Laws Income Tax Fri, 10 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253292