https://www.taxtmi.com/caselaws?id=67828 The appeal was partly allowed. The addition of accrued interest in the income of the assessee was upheld. The disallowance of interest received from members was overturned, allowing the deduction under s. 80P(2). The treatment of the increased value of closing stock was remanded to the CIT(A) for further determination. The claim for allowance of percentage expenses attributable to non-member's income was rejected. The issue of set off of the loss of the last year was directed to be considered by the CIT(A). en-us Mon, 19 Jul 1982 00:00:00 +0530 Mon, 14 Mar 2011 18:35:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67828 The appeal was partly allowed. The addition of accrued interest in the income of the assessee was upheld. The disallowance of interest received from members was overturned, allowing the deduction under s. 80P(2). The treatment of the increased value of closing stock was remanded to the CIT(A) for further determination. The claim for allowance of percentage expenses attributable to non-member's income was rejected. The issue of set off of the loss of the last year was directed to be considered by the CIT(A). Case-Laws Income Tax Mon, 19 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67828