https://www.taxtmi.com/caselaws?id=335915 The court held that interest earned from advances to employees does not qualify for deduction under Section 80P(2)(a)(i). Additionally, the deduction for provision for non-performing assets is allowable only if the assessee is engaged in banking. Interest on reserve funds and call deposits, not immediately required for business purposes, also does not qualify for deduction under Section 80P(2)(a)(i). The case was remanded to determine if the assessee is engaged in banking and entitled to benefits under the provision. en-us Fri, 11 Nov 2016 00:00:00 +0530 Tue, 31 Jan 2017 17:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335915 The court held that interest earned from advances to employees does not qualify for deduction under Section 80P(2)(a)(i). Additionally, the deduction for provision for non-performing assets is allowable only if the assessee is engaged in banking. Interest on reserve funds and call deposits, not immediately required for business purposes, also does not qualify for deduction under Section 80P(2)(a)(i). The case was remanded to determine if the assessee is engaged in banking and entitled to benefits under the provision. Case-Laws Income Tax Fri, 11 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335915