2016 (3) TMI 168

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.... Dr. Abhishek Atrey, Advocates, for the appellant. Ms. Nisha Bagchi, Ms. Shweta Garg, Ms. Sujeeta Srivastava and B. V. Balaram Das, Advocates, for the respondents. JUDGMENT 1. The appellant is engaged in the business of banking. It had been filing income-tax returns claiming exemption from tax under section 80P(2)(a)(i) of the Income-tax Act, 1961, for the last 40 years prior to the asses....

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....urt by the impugned judgment dated October 18, 2006 Punjab State Co-operative Agricultural Development Bank Ltd. v. CIT [2008] 305 ITR 156 (P&H). Against that order a special leave petition was filed in which leave was granted and that is how the present appeal has come before us. 2. Learned counsel appearing for the appellant-bank at the outset apprised the court about certain subsequent devel....