https://www.taxtmi.com/caselaws?id=55086 Income of a co-operative bank from investments in Government securities, bonds, fixed deposits, KVPs and other approved instruments, together with locker rent and surplus interest tax collected in the ordinary course of banking, was treated as attributable to the banking business under section 80P(2)(a)(i) of the Income-tax Act. The analysis relied on the wider scope of "attributable to" compared with "derived from" and on the Banking Regulation Act provisions recognising investment in securities and provision of safe deposit facilities as normal incidents of banking. Receipts arising from investments made out of reserve funds and working capital, and other incidental banking receipts, therefore retain the character of business income eligible for deduction. en-us Wed, 20 Nov 2002 00:00:00 +0530 Wed, 16 Sep 2015 16:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55086 Income of a co-operative bank from investments in Government securities, bonds, fixed deposits, KVPs and other approved instruments, together with locker rent and surplus interest tax collected in the ordinary course of banking, was treated as attributable to the banking business under section 80P(2)(a)(i) of the Income-tax Act. The analysis relied on the wider scope of "attributable to" compared with "derived from" and on the Banking Regulation Act provisions recognising investment in securities and provision of safe deposit facilities as normal incidents of banking. Receipts arising from investments made out of reserve funds and working capital, and other incidental banking receipts, therefore retain the character of business income eligible for deduction. Case-Laws Income Tax Wed, 20 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55086