2001 (8) TMI 15 - SUPREME COURT

Co-operative society - Whether the Tribunal was right in law in disallowing the claim of the assessee-bank for deduction under section 8OP(2)(a)(i) in respect of income earned from utilization of its reserve funds being statutory reserves under section 67(2) - Whether the Tribunal was right in law in holding that the locker rent is not deductible under section 80P(2)(a)(i) - Held, no