COMMNR. OF INCOME TAX, JALANDHAR vs NAWANSHAHAR CENTRAL COOP. BANK LTD. — C.A. No. 2499/2005

Summary The Supreme Court dismissed the Income Tax Commissioner's appeal against Nawanshahar Central Cooperative Bank Ltd., holding that investments made by banking concerns are part of banking business and income therefrom qualifies for deduction under Section 80-P(2)(a)(i) of the Income Tax Act 1961. The principle extends to cooperative banks statutorily required to place funds in approved securities. Appeals dismissed without costs. This case analysis is maintained by casestatus.in based on publicly available court records.