https://www.taxtmi.com/caselaws?id=286808 Rental income from part of a co-operative bank's own building was treated as connected with the banking business because the letting was incidental to business use, and the head of income did not control its real character; on that basis, the receipt was regarded as capable of exemption under section 80P. The analysis also notes that "attributable to" is wider than "derived from" and that a bank may maintain buildings necessary or convenient for its business under the Banking Regulation Act. By contrast, dividend income from investments in Industrial Finance Corporation Ltd. was held to be a separate receipt not linked to the banking business and therefore not eligible for the claimed exemption. en-us Wed, 25 Jun 1986 00:00:00 +0530 Mon, 16 Mar 2020 12:40:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286808 Rental income from part of a co-operative bank's own building was treated as connected with the banking business because the letting was incidental to business use, and the head of income did not control its real character; on that basis, the receipt was regarded as capable of exemption under section 80P. The analysis also notes that "attributable to" is wider than "derived from" and that a bank may maintain buildings necessary or convenient for its business under the Banking Regulation Act. By contrast, dividend income from investments in Industrial Finance Corporation Ltd. was held to be a separate receipt not linked to the banking business and therefore not eligible for the claimed exemption. Case-Laws Income Tax Wed, 25 Jun 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286808