The Commissioner of Income Tax-II vs. The Andhra Bank Employees Co.Operative Bank Limited

In the result, for the above reasons, these appeals fail and

Bench: V.V.S.RAO,RAMESH RANGANATHAN

546/- as statutory reserve invested in short term and long term deposits. During the assessment year the interest income from the deposits stood at Rs.7,02,69,336/-. This was claimed as deduction being interest from the business of banking. Out of this, an amount of Rs.6,95,66,643/- was disallowed by the assessing officer on the ground that

COMMISSIONER OF INCOME TAX-II, HYDERABAD vs. M/s. The A.P.Vardhaman(Mahila)Cooperative Urban

In the result, for the above reasons, these appeals fail and