https://www.taxtmi.com/caselaws?id=20000 The High Court of BOMBAY ruled in favor of the Revenue, holding that the exemption under section 80P(2)(a)(iv) applied to actual sales to members and that the entire gross profit could not be claimed as a deduction. The Court emphasized that the original intention at the time of purchase of commodities was irrelevant for determining eligibility for the deduction. The judgment did not award any costs. en-us Fri, 11 Sep 1992 00:00:00 +0530 Wed, 11 Nov 2009 11:01:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20000 The High Court of BOMBAY ruled in favor of the Revenue, holding that the exemption under section 80P(2)(a)(iv) applied to actual sales to members and that the entire gross profit could not be claimed as a deduction. The Court emphasized that the original intention at the time of purchase of commodities was irrelevant for determining eligibility for the deduction. The judgment did not award any costs. Case-Laws Income Tax Fri, 11 Sep 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20000