https://www.taxtmi.com/caselaws?id=21727 The High Court held that the co-operative society was entitled to claim a deduction under section 80P(2)(c) of the Income-tax Act for income derived from letting out a house property, in addition to their banking income. The court clarified that the society did not need letting out houses as its primary activity to qualify for the deduction under clause (c). The judgment favored the assessee co-operative society, rejecting the Revenue's argument based on section 80P(2)(f) and affirming their entitlement to the deduction. The decision established a precedent for similar cases involving co-operative societies engaged in multiple activities. en-us Sat, 07 Dec 1991 00:00:00 +0530 Fri, 27 Nov 2009 12:56:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21727 The High Court held that the co-operative society was entitled to claim a deduction under section 80P(2)(c) of the Income-tax Act for income derived from letting out a house property, in addition to their banking income. The court clarified that the society did not need letting out houses as its primary activity to qualify for the deduction under clause (c). The judgment favored the assessee co-operative society, rejecting the Revenue's argument based on section 80P(2)(f) and affirming their entitlement to the deduction. The decision established a precedent for similar cases involving co-operative societies engaged in multiple activities. Case-Laws Income Tax Sat, 07 Dec 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21727