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2005 (8) TMI 287 - ITAT BANGALORE-A
Extract:
....... Patra, NABARD Bonds, State Government securities and IDBI bonds is not income from banking business. The learned Assessing Officer in this case is not justified in concluding that reserves created represent surplus funds. Interest income, so earned is exempt under section 80P(2)(a)(i). In the result, the appeals filed by the revenue are dismissed.