https://www.taxtmi.com/caselaws?id=37086 Income from a printing press was treated as outside the scope of section 80P(2)(a)(i) because it was not attributable to banking or credit facilities for members. Service charges for arranging pumping sets were treated as capable of amounting to a credit facility where the society undertook payment responsibility, but the exemption still failed because the benefit was not extended to the assessee-society's own members. The analysis turns on the requirement that credit facilities under section 80P(2)(a)(i) must be provided to members of the assessee-society itself, and members of a member-society do not automatically qualify. en-us Mon, 18 Sep 1978 00:00:00 +0530 Fri, 26 Mar 2010 12:41:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37086 Income from a printing press was treated as outside the scope of section 80P(2)(a)(i) because it was not attributable to banking or credit facilities for members. Service charges for arranging pumping sets were treated as capable of amounting to a credit facility where the society undertook payment responsibility, but the exemption still failed because the benefit was not extended to the assessee-society's own members. The analysis turns on the requirement that credit facilities under section 80P(2)(a)(i) must be provided to members of the assessee-society itself, and members of a member-society do not automatically qualify. Case-Laws Income Tax Mon, 18 Sep 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37086