https://www.taxtmi.com/caselaws?id=16673 HC held that interest income earned by the assessee-co-operative society from credit sales made to other co-operative societies does not qualify for deduction under s.80P(2)(a)(i), since such credit sales do not constitute "providing credit facilities" to members. Accordingly, the assessee is not entitled to exemption on this interest component. On the second issue, HC accepted that the tax payment made on 15 December 1980 falls within the statutory schedule under s.211(1)(i), and must be treated as advance tax. The Tribunal's view was upheld, and the assessee was held entitled to all consequential reliefs flowing from such characterization as advance tax. en-us Wed, 19 Mar 1997 00:00:00 +0530 Tue, 16 Dec 2025 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16673 HC held that interest income earned by the assessee-co-operative society from credit sales made to other co-operative societies does not qualify for deduction under s.80P(2)(a)(i), since such credit sales do not constitute "providing credit facilities" to members. Accordingly, the assessee is not entitled to exemption on this interest component. On the second issue, HC accepted that the tax payment made on 15 December 1980 falls within the statutory schedule under s.211(1)(i), and must be treated as advance tax. The Tribunal's view was upheld, and the assessee was held entitled to all consequential reliefs flowing from such characterization as advance tax. Case-Laws Income Tax Wed, 19 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16673