1996 (3) TMI 73

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..... red the following question for the opinion of this court under section 256(1) of the Income-tax Act, 1961: "Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that : (i) interest on securities, (ii) subsidies received from the Government, and (iii) dividends received by the assessee, were business income of the assessee entitled to deduction un .....

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..... on 80P(2)(a)(i) of the Income-tax Act, 1961. In so far as item No. (iii), namely, the dividend received by the assessee is concerned, it came up for consideration before this court in T. C. Nos. 1153 and 1154 of 1982 in the case of CIT v. Ramanathapuram District Central Co-operative Bank Ltd. [1997] 224 ITR 226, wherein by a judgment dated January 10, 1996, this court held that the assessee is ent .....

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