https://www.taxtmi.com/caselaws?id=25454 Section 80P(2)(a)(i) was explained as using the wider phrase "attributable to", which covers receipts sufficiently connected with banking activity. On that basis, commission income linked to dealings in banking instruments and a subsidy granted to meet branch-opening expenditure were treated as attributable to the business of banking and therefore exempt. Locker rent, however, was held not to form part of banking business within section 5(b) of the Banking Regulation Act, so it did not qualify for the exemption. The commentary thus distinguishes income connected with banking operations from receipts outside that statutory concept. en-us Tue, 23 Jun 1987 00:00:00 +0530 Thu, 28 Jan 2010 16:48:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25454 Section 80P(2)(a)(i) was explained as using the wider phrase "attributable to", which covers receipts sufficiently connected with banking activity. On that basis, commission income linked to dealings in banking instruments and a subsidy granted to meet branch-opening expenditure were treated as attributable to the business of banking and therefore exempt. Locker rent, however, was held not to form part of banking business within section 5(b) of the Banking Regulation Act, so it did not qualify for the exemption. The commentary thus distinguishes income connected with banking operations from receipts outside that statutory concept. Case-Laws Income Tax Tue, 23 Jun 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25454