deposits and lending money to its members or such other societies as are mentioned in the objects and that when it lays out its moneys so that they may be readily available to meet the demand of its depositors if and when they arise, it is not a legitimate mode of carrying on of its Banking business. The Privy Council in Punjab Cooperative Bank Ltd. v. CIT Lahore [24 ITR 346, 350] where the profits arose from the sale of government securities pointed out at p. 645 that in the ordinary cases the business of a Bank essentially consists of dealing with money and credit. Depositors put their money in the Bank at a small rate of interest and in order to meet their demands if and when they arise the Bank has always to keep sufficient cash or easily realisable securities. That is a normal step in the carrying on of the Banking business. In other words that is an act done in what is truly the carrying on or carrying out of a business. It may be added that another mode of conducting business