2015 (3) TMI 1330

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..... Gaikwad Advocate for Respondent. ORDER : 1. Mr. Sharma, learned counsel for Appellant states that the income byway of interest generated on the deposits made in National Saving Certificates and Kisan Vikas Patras cannot be treated as income forming part of the banking business and as such the same is not exempted under Section 80P( 2)(a)(i) of the Income Tax Act. Learned counsel relies on th....

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....is Court in a case of Commissioner of Income Tax vs. Ratnagiri Dist. Central Cooperative Bank Ltd., 2002(1) Mh.L.J. 892. 3. In all these matters the Respondent Bank had invested its funds in National Saving Certificates and Kisan Vikas Patras. The Division Bench of this Court in the case of Commissioner of Income Tax vs. Ratnagiri Dist. Central Cooperative Bank Ltd., referred supra, had considere....