https://www.taxtmi.com/caselaws?id=5685 Interest on Government securities and dividends on shares received by a co-operative bank were treated as income attributable to its banking business, so they qualified for deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961. The Court accepted the Tribunal's factual finding that the income arose from the assessee's banking activity and noted that the Revenue failed to dislodge that finding. A contrary authority on Government securities was distinguished as resting on a different factual basis and not on a finding of business attribution. The Revenue's challenge therefore failed, and the assessee's claim to deduction was upheld. en-us Fri, 24 Jul 1998 00:00:00 +0530 Wed, 17 Dec 2025 13:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5685 Interest on Government securities and dividends on shares received by a co-operative bank were treated as income attributable to its banking business, so they qualified for deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961. The Court accepted the Tribunal's factual finding that the income arose from the assessee's banking activity and noted that the Revenue failed to dislodge that finding. A contrary authority on Government securities was distinguished as resting on a different factual basis and not on a finding of business attribution. The Revenue's challenge therefore failed, and the assessee's claim to deduction was upheld. Case-Laws Income Tax Fri, 24 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5685