https://www.taxtmi.com/caselaws?id=20817 A co-operative society's contribution to the Gujarat Co-operative Education Fund under section 69 of the Gujarat Co-operative Societies Act, 1961 was examined as a business deduction. The Court treated the payment as linked to the society's commercial operations, noting that compliance with the prescribed dividend level helped retain and satisfy members and thereby supported income generation and retention. On that basis, the expenditure was regarded as incurred wholly and exclusively for business purposes rather than as a post-profit appropriation, and the contribution was allowed as a deduction under section 37 of the Income-tax Act, 1961. en-us Mon, 15 Feb 1993 00:00:00 +0530 Tue, 17 Nov 2009 13:36:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20817 A co-operative society's contribution to the Gujarat Co-operative Education Fund under section 69 of the Gujarat Co-operative Societies Act, 1961 was examined as a business deduction. The Court treated the payment as linked to the society's commercial operations, noting that compliance with the prescribed dividend level helped retain and satisfy members and thereby supported income generation and retention. On that basis, the expenditure was regarded as incurred wholly and exclusively for business purposes rather than as a post-profit appropriation, and the contribution was allowed as a deduction under section 37 of the Income-tax Act, 1961. Case-Laws Income Tax Mon, 15 Feb 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20817