https://www.taxtmi.com/caselaws?id=76403 Deduction under section 80P(2)(a)(i) for interest earned by a co-operative society on advances or credit facilities depends on proof that the society was carrying on the relevant business, and the matter was remitted because the record lacked the material needed to examine its memorandum, articles and return particulars. The claim to revenue deduction for replacement of machinery and installation of new units also required factual findings on whether the work increased production capacity; as those findings were absent, the allowance was set aside and the issue was remitted for reconsideration. en-us Tue, 17 Feb 2009 00:00:00 +0530 Wed, 23 Jun 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76403 Deduction under section 80P(2)(a)(i) for interest earned by a co-operative society on advances or credit facilities depends on proof that the society was carrying on the relevant business, and the matter was remitted because the record lacked the material needed to examine its memorandum, articles and return particulars. The claim to revenue deduction for replacement of machinery and installation of new units also required factual findings on whether the work increased production capacity; as those findings were absent, the allowance was set aside and the issue was remitted for reconsideration. Case-Laws Income Tax Tue, 17 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76403