https://www.taxtmi.com/caselaws?id=371359 Income from sales under the Public Distribution System was treated as eligible for deduction under Section 80P because the fair price shop activity was an authorised ancillary function of the co-operative society under its bye-laws and was carried on under binding Government and Registrar directions. The Madras HC noted that the wider definition of a credit society under the Tamil Nadu Co-operative Societies Act, 1983 allowed the allied activity, and that the sales income could not be separated from the society's banking and member-oriented operations. The Revenue's contention that the sales were unrelated to banking was rejected, and the assessee's own earlier decision on the same issue was followed. en-us Thu, 01 Nov 2018 00:00:00 +0530 Mon, 03 Dec 2018 09:08:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371359 Income from sales under the Public Distribution System was treated as eligible for deduction under Section 80P because the fair price shop activity was an authorised ancillary function of the co-operative society under its bye-laws and was carried on under binding Government and Registrar directions. The Madras HC noted that the wider definition of a credit society under the Tamil Nadu Co-operative Societies Act, 1983 allowed the allied activity, and that the sales income could not be separated from the society's banking and member-oriented operations. The Revenue's contention that the sales were unrelated to banking was rejected, and the assessee's own earlier decision on the same issue was followed. Case-Laws Income Tax Thu, 01 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371359