https://www.taxtmi.com/caselaws?id=35732 The High Court of Madhya Pradesh held that income derived from credit sales to members by a registered co-operative society did not qualify as providing credit facilities under section 80P(2)(a)(i) of the Income Tax Act. The Court ruled that since no income was directly linked to selling goods on credit, the provisions of section 80P(2)(a)(i) were not applicable, upholding the decision of the revenue authorities to reject the assessee's claim for deduction. The Court declined to address the question of the assessee's entitlement to deduction as an Urban Consumers Co-operative Society. Each party was directed to bear their respective costs in the reference proceedings. en-us Wed, 03 Sep 1980 00:00:00 +0530 Tue, 16 Mar 2010 13:26:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35732 The High Court of Madhya Pradesh held that income derived from credit sales to members by a registered co-operative society did not qualify as providing credit facilities under section 80P(2)(a)(i) of the Income Tax Act. The Court ruled that since no income was directly linked to selling goods on credit, the provisions of section 80P(2)(a)(i) were not applicable, upholding the decision of the revenue authorities to reject the assessee's claim for deduction. The Court declined to address the question of the assessee's entitlement to deduction as an Urban Consumers Co-operative Society. Each party was directed to bear their respective costs in the reference proceedings. Case-Laws Income Tax Wed, 03 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35732