https://www.taxtmi.com/caselaws?id=2869 Income arising from investments made by a cooperative bank, including funds required by law to be placed in approved securities, is attributable to the business of banking when the investment activity remains connected with and incidental to banking operations. The settled principle that investment income of a banking concern forms part of business profits applies equally to cooperative banks. On that basis, such income is business income attributable to the banking business and is deductible under Section 80-P(2)(a)(i) of the Income-tax Act, 1961. en-us Fri, 08 Apr 2005 00:00:00 +0530 Fri, 02 May 2025 14:38:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2869 Income arising from investments made by a cooperative bank, including funds required by law to be placed in approved securities, is attributable to the business of banking when the investment activity remains connected with and incidental to banking operations. The settled principle that investment income of a banking concern forms part of business profits applies equally to cooperative banks. On that basis, such income is business income attributable to the banking business and is deductible under Section 80-P(2)(a)(i) of the Income-tax Act, 1961. Case-Laws Income Tax Fri, 08 Apr 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2869