https://www.taxtmi.com/caselaws?id=63034 The Tribunal held that the income derived by a cooperative society from manufacturing sugar on its own account was not eligible for exemption under section 80P(2)(a)(iii) of the Income-tax Act. The society's activities of purchasing sugarcane from both members and non-members, manufacturing sugar, and selling it independently did not qualify as "marketing of agricultural produce of its members." Consequently, the Tribunal overturned the CIT(A)'s decision for the assessment year 1992-93 and upheld the Assessing Officer's decision for subsequent years 1993-94, 1994-95, and 1995-96. en-us Mon, 23 Feb 1998 00:00:00 +0530 Thu, 27 Jan 2011 14:05:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63034 The Tribunal held that the income derived by a cooperative society from manufacturing sugar on its own account was not eligible for exemption under section 80P(2)(a)(iii) of the Income-tax Act. The society's activities of purchasing sugarcane from both members and non-members, manufacturing sugar, and selling it independently did not qualify as "marketing of agricultural produce of its members." Consequently, the Tribunal overturned the CIT(A)'s decision for the assessment year 1992-93 and upheld the Assessing Officer's decision for subsequent years 1993-94, 1994-95, and 1995-96. Case-Laws Income Tax Mon, 23 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63034