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2010 (4) TMI 803 - AT - Income TaxDeduction under section 80P(2)(a)(i) - claim for deduction of its interest income - Assessee engaged in construction activity and contended that it carries operation on lines of co-operation ,self help & thrift - Held that:- In view of Madras Autorickshaw Drivers' Co-operative Society Ltd.'s (1982 - TMI - 28720 - MADRAS High Court) which was later on afirm by Apex Court. "The tax relief under section 80P(2)(a)(i) is a grant by Parliament not to a category to income but to a category of the assessee. If the society in question does not answer this description, it is not entitled to the relief. For invoking or applying this provision, it is not permissible to make a break-up of the income of the society as so much derived from the provision of credit facilities and so much from other income. Thus appeal of revenue were allowed.
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