https://www.taxtmi.com/caselaws?id=38181 The High Court of Madhya Pradesh ruled in favor of the assessee-society, holding that it qualified as a 'cottage industry' under section 81 of the Income-tax Act, 1961. The court emphasized the cooperative nature of the society's operations, likening it to a family working collectively in a cottage-like setting. The judgment extended the traditional concept of 'cottage industry' to include cooperative societies, granting tax exemption for the income generated from manufacturing and selling brass utensils. The court awarded costs to the society and affirmed the tax exemption for its activities. en-us Fri, 31 Mar 1978 00:00:00 +0530 Sat, 03 Apr 2010 16:02:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38181 The High Court of Madhya Pradesh ruled in favor of the assessee-society, holding that it qualified as a 'cottage industry' under section 81 of the Income-tax Act, 1961. The court emphasized the cooperative nature of the society's operations, likening it to a family working collectively in a cottage-like setting. The judgment extended the traditional concept of 'cottage industry' to include cooperative societies, granting tax exemption for the income generated from manufacturing and selling brass utensils. The court awarded costs to the society and affirmed the tax exemption for its activities. Case-Laws Income Tax Fri, 31 Mar 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38181