https://www.taxtmi.com/caselaws?id=29664 The High Court ruled against the assessee, a co-operative society, stating that selling goods on credit does not constitute providing credit facilities under section 80P(2)(a)(i) of the Income-tax Act, 1961. The court emphasized the distinction between credit societies and consumer societies, maintaining that the provision of credit facilities involves more than just selling goods on credit. The judgment clarified that the assessee was not entitled to the exemption and must pay the costs of the department and counsel fees. en-us Mon, 04 Jan 1982 00:00:00 +0530 Mon, 15 Mar 2010 13:56:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29664 The High Court ruled against the assessee, a co-operative society, stating that selling goods on credit does not constitute providing credit facilities under section 80P(2)(a)(i) of the Income-tax Act, 1961. The court emphasized the distinction between credit societies and consumer societies, maintaining that the provision of credit facilities involves more than just selling goods on credit. The judgment clarified that the assessee was not entitled to the exemption and must pay the costs of the department and counsel fees. Case-Laws Income Tax Mon, 04 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29664