Interest earned on deposits out of non-SLR funds is eligible for deduction u/s. 80P(2)(a)(i)

HIGH COURT OF HIMACHAL PRADESH Commissioner of Income-tax, Shimla Versus Kangra Central Cooperative Bank Ltd. IT APPEAL NOs. 32, 39 & 40 OF 2008 OCTOBER 4, 2012 ORDER Deepak Gupta, J.   These aforesaid Income-tax Appeals are being disposed of by a common judgement since the following identical questions of law are involved in all these cases:-  1.  Whether on the facts and in the circumstances of the case the Hon’ble ITAT was right in law in holding that the assessee bank was entitled to deduction under Section 80P(2)(a)(i) in respect of interest earned on deposit...