https://www.taxtmi.com/caselaws?id=19285 Income derived by a co-operative society from letting out surplus building space was treated as outside the society's own business activity and, on that basis, outside section 80P(2)(c) of the Income-tax Act, 1961. The provision was read as confining deduction to profits and gains attributable to activities of the society other than those covered by clauses (a) and (b), and the letting income was not regarded as part of the society's corporate operations. The High Court also noted that the statutory language was clear, so no referable question of law arose for the Tribunal under section 256(2). The reference petition was dismissed. en-us Wed, 18 Jan 1995 00:00:00 +0530 Thu, 05 Nov 2009 12:03:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19285 Income derived by a co-operative society from letting out surplus building space was treated as outside the society's own business activity and, on that basis, outside section 80P(2)(c) of the Income-tax Act, 1961. The provision was read as confining deduction to profits and gains attributable to activities of the society other than those covered by clauses (a) and (b), and the letting income was not regarded as part of the society's corporate operations. The High Court also noted that the statutory language was clear, so no referable question of law arose for the Tribunal under section 256(2). The reference petition was dismissed. Case-Laws Income Tax Wed, 18 Jan 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19285