Deduction u/s. 80P available on Interest earned on deposits of non-statutory liquid ratio funds

HIGH COURT OF ALLAHABAD Commissioner of Income-tax versus Gulshan Mercantile Urban Co-Operative Bank Ltd. IT Appeal No. 429 of 2009 November 7, 2012 ORDER 1. We have heard Shri Dhananjay Awasthi for the Income Tax Department. Shri Ashok Trivedi appears for the respondent assessee. 2. In this income tax appeal under Section 260-A of the Income Tax Act, 1961 (in short the Act) the Commissioner of Income Tax, Muzaffar Nagar has raised the following questions of law to be considered by the Court:- “(1)  Whether on the facts and in the circumstances of the case, the Tribunal...