https://www.taxtmi.com/caselaws?id=56432 Interest earned from investment of statutory reserve funds was treated as outside the exemption under section 80P(2)(a)(i) because those reserves were required by law, subject to restrictions on withdrawal and use, and not part of circulating capital. The later clarification held that the earlier Tribunal ruling was confined to that statutory reserve-fund context and did not extend to other reserves or deposits voluntarily created by the assessee-bank. On that basis, rectification was maintainable to make the earlier order explicit, and the disallowance remained limited to interest from statutory reserve funds only. en-us Thu, 24 Sep 1998 00:00:00 +0530 Fri, 03 Dec 2010 16:19:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56432 Interest earned from investment of statutory reserve funds was treated as outside the exemption under section 80P(2)(a)(i) because those reserves were required by law, subject to restrictions on withdrawal and use, and not part of circulating capital. The later clarification held that the earlier Tribunal ruling was confined to that statutory reserve-fund context and did not extend to other reserves or deposits voluntarily created by the assessee-bank. On that basis, rectification was maintainable to make the earlier order explicit, and the disallowance remained limited to interest from statutory reserve funds only. Case-Laws Income Tax Thu, 24 Sep 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56432