2012 (5) TMI 87

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....ate.   For the respondent: Mr. Bhupinder Gupta, Senior Advocate, with Mr. Janesh Gupta, Advocate.   Sanjay Karol, J. (oral)   Our attention is invited to the judgment rendered by the Division Bench of this Court in Commissioner of Income Tax vs. M/s H.P. State Cooperative Bank Ltd., reported in 2009 (3) SLC 393, wherein the following substantial question of law was answered in fa....

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....lowing substantial question of law:- "Whether the assessee bank was entitled to deduction under Section 80P(2)(a)(i) of the Income Tax Act in respect of interest earned on deposits made from the non-SLR funds, especially since the income so earned cannot be said to be earned from the normal banking business/activities?". 4. The aforesaid substantial question of law, we find, is similar to the on....