https://www.taxtmi.com/caselaws?id=255805 The Tribunal upheld the CIT(A)'s decision, allowing the assessee's claim for deduction under Section 80P(2)(a)(i) for interest income from banks other than cooperative banks, income from mutual funds, and capital gains on mutual funds. The Tribunal distinguished the case law cited by the Revenue, emphasizing that the assessee's activities constitute banking business and the investments were made to maintain liquidity. The Tribunal concluded that the income from investments qualifies as business income eligible for deduction under Section 80P(2)(a)(i). en-us Wed, 31 Jul 2013 00:00:00 +0530 Tue, 27 Jan 2015 12:47:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255805 The Tribunal upheld the CIT(A)'s decision, allowing the assessee's claim for deduction under Section 80P(2)(a)(i) for interest income from banks other than cooperative banks, income from mutual funds, and capital gains on mutual funds. The Tribunal distinguished the case law cited by the Revenue, emphasizing that the assessee's activities constitute banking business and the investments were made to maintain liquidity. The Tribunal concluded that the income from investments qualifies as business income eligible for deduction under Section 80P(2)(a)(i). Case-Laws Income Tax Wed, 31 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255805