Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2003 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2003 (10) TMI 21 - HC - Income TaxExemption u/s 80P(2)(a)(i) - respondent is the Co-operative Bank engaged in banking activity - Assessing Officer, while completing the assessment, took the view that the rental income received by the assessee in letting out the portion of the building partly occupied by it and the interest received from setting apart certain funds as reserve fund, does not come within the purview of section 80P(2)(a)(i) – Held that interest received out of the funds deposited in the Reserve Bank and other banks are exempted from payment of tax in terms of section 80P(2)(a)(i)
|