https://www.taxtmi.com/caselaws?id=10149 The court upheld the Tribunal's interpretation of section 80P(2)(c) of the Income-tax Act, granting a deduction to the co-operative society for income earned from deposits, despite the society not engaging in business activities during the assessment year. The judgment favored the assessee, ruling against the Revenue, emphasizing a liberal construction of the provision to promote co-operative societies' growth. en-us Fri, 19 Nov 2004 00:00:00 +0530 Wed, 08 Jul 2009 08:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10149 The court upheld the Tribunal's interpretation of section 80P(2)(c) of the Income-tax Act, granting a deduction to the co-operative society for income earned from deposits, despite the society not engaging in business activities during the assessment year. The judgment favored the assessee, ruling against the Revenue, emphasizing a liberal construction of the provision to promote co-operative societies' growth. Case-Laws Income Tax Fri, 19 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10149