https://www.taxtmi.com/caselaws?id=6041 Income from statutory reserves and interest on such reserves was treated as eligible banking income deductible under section 80P(2)(a)(i), following the Court's prior ruling on the same point. Income from voluntary reserves and interest on non-statutory reserves could not be finally decided because the decisive factual question was whether those funds were used in the ordinary banking business; the matter was remitted for fresh factual determination. Locker rent and income from safe deposit vaults were also held to fall within ordinary banking business under section 6(1)(a) of the Banking Regulation Act, so that income was likewise deductible under section 80P(2)(a)(i). en-us Thu, 30 Aug 2001 00:00:00 +0530 Fri, 03 Oct 2025 11:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6041 Income from statutory reserves and interest on such reserves was treated as eligible banking income deductible under section 80P(2)(a)(i), following the Court's prior ruling on the same point. Income from voluntary reserves and interest on non-statutory reserves could not be finally decided because the decisive factual question was whether those funds were used in the ordinary banking business; the matter was remitted for fresh factual determination. Locker rent and income from safe deposit vaults were also held to fall within ordinary banking business under section 6(1)(a) of the Banking Regulation Act, so that income was likewise deductible under section 80P(2)(a)(i). Case-Laws Income Tax Thu, 30 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6041