The Income Tax Officer, however, assessed the interest for these three years under Section 12 of the Income Tax Act, as income from “other sources”. The appellant took an appeal to the Appellate Assistant Commissioner where it was contended that as the business of the appellant Bank consisted of lending money and the deposits had been made not for the purpose of investment but for that business and thereby Civil Appeal No.3291­3294 of 2009, etc. Page 30 of 45fulfilling the purpose for which the cooperative Bank was constituted, these various sums of interest were not subject to income tax because of the notification issued by the Central Government under Section 60 of the Income Tax Act. The relevant portion of that notification, CBR Notification 35 dated 20­10­1934, and No. 33 dated 18­8­1945, was: “The following classes of income shall be exempt from the tax payable under the said Act, but shall be taken into account in determining the total income of an assessee for the purpose of