THE SRI KANNIKAPARAMESWARI CO OP BANK LIMITED vs. THE INCOME TAX OFFICER
The appeal stands allowed
ITA/65/2017HC Karnataka23 Nov 2021
Bench: S.SUJATHA,HANCHATE SANJEEVKUMAR
Section 143(1)Section 143(3)Section 147Section 148Section 260Section 260ASection 80P(2)Section 80P(2)(a)
d) The various Govt. securities held by the
assessee Bank was in the normal course of
business of banking only and profit earned on
sale of these investments forms part of
business of banking only.
After examining the aforesaid contention of
the assessee, it was held that the assessee Bank
was entitled to the claim of deduction u/s 80P
