Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (3) TMI 1232 - HC - Income TaxDeduction u/s 80P(2)(a)(i) - interest received by the appellant being a co-operative society from its members - Held that:- Tribunal while confirming the order of the Commissioner of Income-tax (Appeals) had held that the assessee was a co-operative society engaged in procuring processing and marketing of milk and milk products of its members societies - It also recorded that the credit facility which was extended by the assessee to its members was ancillary to its main object and it was not carrying on the business of banking or providing credit facilities to its members and, therefore, was not entitled to the benefits of section 80P(2)(a)(i) of the Act - Against assessee.
|