https://www.taxtmi.com/caselaws?id=433341 The court allowed the Tax Case Appeal, holding that the benefit under Section 80P(2)(a)(i) is available for both SLR and non-SLR investments as long as they constitute "Banking Business." The court rejected the respondent's argument that non-SLR investments should be evaluated under Section 80(2)(d) and clarified that the classification of income from these investments should be under "Profits and Gains from Business or Profession." The court also noted that Section 80P(4), which limits the applicability of Section 80P to certain co-operative banks, does not apply to the assessment years in question (2005-06 and 2006-07) as it was effective only from 01.04.2007. en-us Tue, 13 Dec 2022 00:00:00 +0530 Fri, 27 Jan 2023 08:34:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433341 The court allowed the Tax Case Appeal, holding that the benefit under Section 80P(2)(a)(i) is available for both SLR and non-SLR investments as long as they constitute "Banking Business." The court rejected the respondent's argument that non-SLR investments should be evaluated under Section 80(2)(d) and clarified that the classification of income from these investments should be under "Profits and Gains from Business or Profession." The court also noted that Section 80P(4), which limits the applicability of Section 80P to certain co-operative banks, does not apply to the assessment years in question (2005-06 and 2006-07) as it was effective only from 01.04.2007. Case-Laws Income Tax Tue, 13 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433341