https://www.taxtmi.com/caselaws?id=263283 The Tribunal allowed the appeal of the assessee, overturning the disallowance of deduction u/s. 80P of the Income Tax Act, 1961. Emphasizing the principles of mutuality and consistency, the Tribunal held that the income from the sale of consumer goods and cloth divisions, primarily benefiting members, was exempt from taxation. The decision highlighted the non-commercial nature of the activities and the historical acceptance of such income by the Department. The judgment underscored the importance of providing privileges to members under mutual arrangements, leading to the allowance of the claimed deduction. en-us Fri, 14 Aug 2015 00:00:00 +0530 Fri, 20 Nov 2015 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263283 The Tribunal allowed the appeal of the assessee, overturning the disallowance of deduction u/s. 80P of the Income Tax Act, 1961. Emphasizing the principles of mutuality and consistency, the Tribunal held that the income from the sale of consumer goods and cloth divisions, primarily benefiting members, was exempt from taxation. The decision highlighted the non-commercial nature of the activities and the historical acceptance of such income by the Department. The judgment underscored the importance of providing privileges to members under mutual arrangements, leading to the allowance of the claimed deduction. Case-Laws Income Tax Fri, 14 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263283