TaxTMI 
TaxTMI 
2009 (7) TMI 1150
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....tion 260-A of the Income Tax Act, 1961(hereinafter referred to as the Act) against the Order of the Income Tax Appellate Tribunal, Panaji Bench, Panaji, dated 30th November, 2004. While admitting the present appeal, the Division Bench passed an Order dated 18th July, 2005 and framed the following questions of law which read as under:- "(A) Whether on the facts and in the circumstance....
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....he excess investment made in SLR securities were subjected to taxation by the Assessing Officer vide his Order dated 24th February, 1999 which was upheld in appeal by the Commissioner of Income Tax(Appeals). It was felt by the authorities that the income from any investments coming out of SLR would be entitled to deduction under Section 80P(2)(a)(i) in terms of the Judgment of the Supreme Court in....
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....o the Judgment of the Gujarat High Court in the case of Commissioner of Income Tax v. Baroda Peoples Co-operative Bank Ltd.(2006) 280 ITR 282) followed the principle while referring to the Special Bench Judgment of the Ahmedabad High Court in the case of Surat District Co-operative Bank Ltd. (2003) 262 ITR(AT) 1) and held as under:- "In this case, it was held by the Special Bench of ....
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....ol.254 Income Tax Reports page 697) to contend that this deduction was not permissible. We are not inclined to accept this submission primarily in view of what is held in the case of C.I.T. v. Ratnagiri District Central Cooperative Bank Ltd.(supra) as the issues are no way different. In fact in that case while referring to the Judgment of the Supreme Court in the case of Bihar State Co-operative B....