https://www.taxtmi.com/caselaws?id=9596 The High Court affirmed the Tribunal's decision, allowing deduction under section 80P(2)(a)(iv) on the gross income for a registered cooperative society. It held that in an indivisible business, the entire expenditure should be deductible, rejecting the notion of allocating common overhead expenses. Precedents supported this view, emphasizing that in such businesses, all expenses are deductible. The court ruled in favor of the assessee, concluding that the Income-tax Officer should consider the gross profit for deduction purposes. en-us Mon, 12 Dec 2005 00:00:00 +0530 Sat, 27 Jun 2009 19:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9596 The High Court affirmed the Tribunal's decision, allowing deduction under section 80P(2)(a)(iv) on the gross income for a registered cooperative society. It held that in an indivisible business, the entire expenditure should be deductible, rejecting the notion of allocating common overhead expenses. Precedents supported this view, emphasizing that in such businesses, all expenses are deductible. The court ruled in favor of the assessee, concluding that the Income-tax Officer should consider the gross profit for deduction purposes. Case-Laws Income Tax Mon, 12 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9596