https://www.taxtmi.com/caselaws?id=5093 The exemption notification for co-operative societies was construed to cover profits of the society generally and not to be confined to income computed under any particular head. Its exclusion for income from securities referred to in section 8 was read as applying to securities held as investments, not to Government securities held as stock-in-trade by a co-operative bank. Interest arising from such trading assets therefore remained within the exemption unless expressly excluded. en-us Thu, 23 Nov 1967 00:00:00 +0530 Thu, 20 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5093 The exemption notification for co-operative societies was construed to cover profits of the society generally and not to be confined to income computed under any particular head. Its exclusion for income from securities referred to in section 8 was read as applying to securities held as investments, not to Government securities held as stock-in-trade by a co-operative bank. Interest arising from such trading assets therefore remained within the exemption unless expressly excluded. Case-Laws Income Tax Thu, 23 Nov 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5093