Commercial property renting by bank is not a banking activity

IN THE ITAT COCHIN BENCH Income Tax Officer, Ward 1(1), Trivandrum Versus Kerala State Co-op. Bank Ltd. IT Appeal No. 546 (Coch.) of 2010 [Assessment year 2006-07] October 12, 2012 ORDER N.R.S. Ganesan, Judicial Member This appeal of the revenuer is directed against the order of the Commissioner of Income-tax(A)-I, Trivandrum dated 14-07-2010 for the assessment year 2006-07. 2. The only issue arises for consideration is deduction u/s 80P(2)(a)(i) of the Act in respect of rental income received by the taxpayer. 3. Ms. Veni Raj, the ld. DR submitted that the taxpayer has receive...