Interest earned by Co-operative Bank on deposits of non-SLR funds is eligible for deduction U/s. 80-P(2)(a)(i)

HIGH COURT OF ALLAHABAD Commissioner of Income-tax versus Muzaffarnagar Kshetriya Gramin Bank Ltd. R.K. Agrawal AND Ram Surat Ram (Maurya), JJ. IT Appeal No. 428 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 ci...