https://www.taxtmi.com/caselaws?id=333066 Income from demat charges was treated as part of banking activity and held eligible for deduction under section 80P because the facility was regarded as incidental to the bank's authorised business. Commission from special adhesive stamp franking charges was also treated as income from authorised agency business and allowed the same deduction. Interest on loans advanced to employees who were nominal members was likewise considered deductible, as nominal membership was recognised under co-operative society law and section 80P contained no exclusion for such members. The assessee's claim under section 80P thus succeeded across all three income streams. en-us Tue, 23 Aug 2016 00:00:00 +0530 Tue, 04 Oct 2016 13:28:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333066 Income from demat charges was treated as part of banking activity and held eligible for deduction under section 80P because the facility was regarded as incidental to the bank's authorised business. Commission from special adhesive stamp franking charges was also treated as income from authorised agency business and allowed the same deduction. Interest on loans advanced to employees who were nominal members was likewise considered deductible, as nominal membership was recognised under co-operative society law and section 80P contained no exclusion for such members. The assessee's claim under section 80P thus succeeded across all three income streams. Case-Laws Income Tax Tue, 23 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333066