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2008 (8) TMI 193 - HC - Income TaxInterest earned from investment (out of reserve) in another Society - Whether Tribunal was right in law in holding that the interest income earned by the assessee (a co-operative society) on deposits made with H. P. State Co-operative Bank in the shape of F. D., is income derived from banking business and, therefore, eligible for deduction under section 80P(2) (a) (i) – Held, yes - no merit in appeal of the Revenue so it is rejected
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