Income of co-operative bank from investment in PSEB bonds is deductible under section 80P

PUNJAB AND HARYANA HIGH COURT Commissioner of Income-tax v/s. Nawanshahar Central Co-operative Bank Ltd. N.K. SUD AND N.K. SODHI, JJ IT APPEAL NOS. 154 AND 155 OF 2002 JANUARY 6,2003 JUDGMENT N.K. Sud, J.  This order shall dispose of two Income-tax Appeal Nos. 154 and 155 of 2002 involving common questions of law and facts. For the sake of convenience, the facts are being taken from Income-tax Appeal No. 155 of 2002 pertaining to the assessment year 1994-95. 2. The assessee is a co-operative bank engaged in the banking business. It is registered with the Registrar of Firms ...