https://www.taxtmi.com/caselaws?id=37603 The court held that the income of the co-operative society from investments in Government securities, necessary for its business of supplying sugarcane, was exempt under clause (c) of section 80P(2) of the Income Tax Act. The court found that the profits from such investments were connected to the business activity, thus ruling in favor of the assessee and against the department. No costs were awarded due to the absence of representation from the assessee. en-us Tue, 20 Feb 1979 00:00:00 +0530 Tue, 30 Mar 2010 18:34:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37603 The court held that the income of the co-operative society from investments in Government securities, necessary for its business of supplying sugarcane, was exempt under clause (c) of section 80P(2) of the Income Tax Act. The court found that the profits from such investments were connected to the business activity, thus ruling in favor of the assessee and against the department. No costs were awarded due to the absence of representation from the assessee. Case-Laws Income Tax Tue, 20 Feb 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37603