https://www.taxtmi.com/highlights?id=80710 This is a summary of a tax case dealing with the deduction u/s 80P(2)(vi) of the Income Tax Act for income earned by cooperative societies from the collective disposal of labor of their members. The key points are: The assessee cooperative society was engaged in civil works, which primarily involved collective labor services, although materials were also procured incidentally. The dominant purpose was collective disposal of members' labor. Even when bidding for tenders requiring both labor and materials, the focus remained on providing collective labor services competitively. The Tribunal held that the assessee's activities cumulatively fell within the scope of "collective disposal of labor of its members" u/s 80P(2)(a)(vi), entitling it to..... en-us Tue, 27 Aug 2024 08:18:09 +0530 Tue, 27 Aug 2024 08:18:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=80710 This is a summary of a tax case dealing with the deduction u/s 80P(2)(vi) of the Income Tax Act for income earned by cooperative societies from the collective disposal of labor of their members. The key points are: The assessee cooperative society was engaged in civil works, which primarily involved collective labor services, although materials were also procured incidentally. The dominant purpose was collective disposal of members' labor. Even when bidding for tenders requiring both labor and materials, the focus remained on providing collective labor services competitively. The Tribunal held that the assessee's activities cumulatively fell within the scope of "collective disposal of labor of its members" u/s 80P(2)(a)(vi), entitling it to..... Highlights Income Tax Tue, 27 Aug 2024 08:18:09 +0530 https://www.taxtmi.com/highlights?id=80710