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2011 (4) TMI 1313 - HC - Income TaxExtract: ....... Ltd. Reported in 2004 267 ITR 742 (Kar) held that the interest earned on the deposits made by the assesse in any banking activity is exempted under Section 80P of the Income Tax Act. Therefore, for the reasons stated above, we answer the question of law framed above in favour of the assesse / appellant and against the Revenue. Ordered accordingly.
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