ORDER

Civil Appeals Nos. 292-98 of 2001

1. We are concerned in these appeals with Assessment Years 1988-1989 to 1994-1995.

2. The High Court reframed the questions that arise in these appeals thus:

"(1) Whether the Tribunal was right in law in disallowing the claim of the assessee Bank for deduction under Section 80-P(2)(a)(i) in respect c of income earned from utilisation of its reserve funds being statutory reserves under Section 67(2) of the Gujarat Cooperative Societies Act, 1961?

(2) Whether the assessee Bank is entitled to claim deduction under Section 80-P(2)(a)(i) in respect of income earned from utilisation of its voluntary reserves other than the statutory reserves mentioned above? d(3) Whether the Tribunal was right in law in holding that the locker rent is not deductible under Section 80-P(2)(a)(i)?"

3. Insofar as the first question is concerned, it is covered against the Revenue by the judgment delivered by this Court on 22-8-2001 in CIT v. Karnataka State Coop. Apex Bank. The first question, therefore, is answered in the negative and in favour of the assessee.

4. Insofar as the third question is concerned, it is clear that the provision of safe deposit vaults is part of