https://www.taxtmi.com/caselaws?id=70708 For section 80P, "member" was read in its inclusive co-operative law sense, covering nominal, associate and similar members unless the statute clearly restricts it; on that basis, commission from marketing cotton of such members qualified for exemption under section 80P(2)(a)(iii). The supply of agricultural implements, seeds and other articles was treated as a sale to the primary societies, because the societies were the legal buyers and price-payers under the permit, delivery and payment arrangement; the fact that goods ultimately reached cultivators did not alter that character. The profit from those supplies therefore qualified for exemption under section 80P(2)(a)(iv). en-us Wed, 18 Aug 1982 00:00:00 +0530 Mon, 18 Apr 2011 16:59:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70708 For section 80P, "member" was read in its inclusive co-operative law sense, covering nominal, associate and similar members unless the statute clearly restricts it; on that basis, commission from marketing cotton of such members qualified for exemption under section 80P(2)(a)(iii). The supply of agricultural implements, seeds and other articles was treated as a sale to the primary societies, because the societies were the legal buyers and price-payers under the permit, delivery and payment arrangement; the fact that goods ultimately reached cultivators did not alter that character. The profit from those supplies therefore qualified for exemption under section 80P(2)(a)(iv). Case-Laws Income Tax Wed, 18 Aug 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70708