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2016 (5) TMI 691 - BOMBAY HIGH COURTBenefit of deduction under Section 80P(2)(a)(i) - Held that:- Section 80P(1) of the Act restricts the benefits of deduction of income of cooperative society to the extent it is earned by providing credit facilities to its members. Therefore, to the extent the income earned is attributable to dealings with the nonmembers are concerned the benefit of Section 80P of the Act would not be available. Considering the concurrent findings of facts in the present appeal, and no perversity has been shown in such findings, we find that on going through the byelaws and the objects of the said Society, there is nothing to suggest that the primary business of the appellant was banking. We find that there is no case made out for any interference in the impugned Orders. We find that no substantial question of law arises in the present appeal
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