https://www.taxtmi.com/caselaws?id=266319 The court upheld the denial of deduction under section 80P for income from non-members, including interest, insurance commission, and LIC charges. Lending to non-members or staff members was deemed unrelated to the core business activity of providing credit facilities to members. The concept of mutuality was only applied to income related to members. The society's request for deduction of expenditure incurred in earning income from non-members was partially accepted, with only the net income being taxable. en-us Wed, 27 May 2015 00:00:00 +0530 Mon, 19 Oct 2015 20:34:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266319 The court upheld the denial of deduction under section 80P for income from non-members, including interest, insurance commission, and LIC charges. Lending to non-members or staff members was deemed unrelated to the core business activity of providing credit facilities to members. The concept of mutuality was only applied to income related to members. The society's request for deduction of expenditure incurred in earning income from non-members was partially accepted, with only the net income being taxable. Case-Laws Income Tax Wed, 27 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266319