https://www.taxtmi.com/caselaws?id=27960 Income from commission, brokerage, Government subsidy, admission fee, incidental charges, financial penalties and miscellaneous receipts was treated as attributable to the banking business of a co-operative society, because the material test under section 80P(2)(a)(i) is whether the income arises from activities normally forming part of banking operations or credit facilities; the deduction was therefore available. Reassessment under section 147(b) was also invalid, since reopening based only on the successor officer's view that the earlier allowance was mistaken amounted to a mere change of opinion and was unsupported by fresh information; the reassessment was struck down. en-us Fri, 08 Jul 1983 00:00:00 +0530 Wed, 17 Feb 2010 11:08:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27960 Income from commission, brokerage, Government subsidy, admission fee, incidental charges, financial penalties and miscellaneous receipts was treated as attributable to the banking business of a co-operative society, because the material test under section 80P(2)(a)(i) is whether the income arises from activities normally forming part of banking operations or credit facilities; the deduction was therefore available. Reassessment under section 147(b) was also invalid, since reopening based only on the successor officer's view that the earlier allowance was mistaken amounted to a mere change of opinion and was unsupported by fresh information; the reassessment was struck down. Case-Laws Income Tax Fri, 08 Jul 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27960