https://www.taxtmi.com/caselaws?id=62014 The Appellate Tribunal overturned the Commissioner's decision and ruled that a cooperative society, engaged in processing and selling raw latex purchased from its members, was not entitled to exemption under section 80P(2)(a)(iii) of the Income-tax Act, 1961. The Tribunal held that the society was not marketing the agricultural produce of its members but its own produce, thereby failing to meet the criteria for exemption. The society's ownership of the processed latex upon purchase was a key factor in the decision, emphasizing the need for marketing members' agricultural produce to qualify for the exemption. en-us Wed, 31 Jul 1985 00:00:00 +0530 Mon, 17 Jan 2011 16:41:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62014 The Appellate Tribunal overturned the Commissioner's decision and ruled that a cooperative society, engaged in processing and selling raw latex purchased from its members, was not entitled to exemption under section 80P(2)(a)(iii) of the Income-tax Act, 1961. The Tribunal held that the society was not marketing the agricultural produce of its members but its own produce, thereby failing to meet the criteria for exemption. The society's ownership of the processed latex upon purchase was a key factor in the decision, emphasizing the need for marketing members' agricultural produce to qualify for the exemption. Case-Laws Income Tax Wed, 31 Jul 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62014