https://www.taxtmi.com/caselaws?id=34331 The court dismissed the appeal against the Income Tax Appellate Tribunal's decision on deductions claimed by a cooperative bank under Section 80P(2)(a)(i) for assessment years 2003-04 and 2004-05. The tribunal's disallowance of expenses and treatment of liability in the suspense account under Section 68 of the Income Tax Act were upheld. The court affirmed that income from investments by a cooperative society engaged in banking activities should be deducted and that entries in the suspense account were part of normal banking transactions, not unexplained cash credits. The appeal was dismissed with no substantial legal questions raised. en-us Wed, 15 Jul 2009 00:00:00 +0530 Mon, 17 Aug 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34331 The court dismissed the appeal against the Income Tax Appellate Tribunal's decision on deductions claimed by a cooperative bank under Section 80P(2)(a)(i) for assessment years 2003-04 and 2004-05. The tribunal's disallowance of expenses and treatment of liability in the suspense account under Section 68 of the Income Tax Act were upheld. The court affirmed that income from investments by a cooperative society engaged in banking activities should be deducted and that entries in the suspense account were part of normal banking transactions, not unexplained cash credits. The appeal was dismissed with no substantial legal questions raised. Case-Laws Income Tax Wed, 15 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34331