In the result, both the grounds of appeal raised by assessee are dismissed
Bench: Shri Pawan Singh & Dr. Arjun Lal Saini
Section 80P(2). The Assessing Officer disallowed such deduction as such income as it was not earned by assessee from its banking business activities. 14. The Assessing Officer also disallowed interest income of Rs. 5,76,613/- on the deposits with State Bank of India. Before making disallowing, the Assessing Officer issued show cause notice to the assessee. In response