1990 (8) TMI 87

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.... the assessee, the Income-tax Appellate Tribunal has referred the following question of law for the decision of this court : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessee co-operative society is not entitled to claim exemption under section 80P(2)(c) of the Income-tax Act, 1961, with regard to the income from letting out a portion....

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....come-tax, dated December 18, 1980. The Appellate Tribunal held that the income from letting out a portion of the building was only income from house property and it could not be termed as profits and gains of an activity contemplated by section 80P(2)(c) of the Act. It is thereafter at the instance of the assessee that the Income-tax Appellate Tribunal has referred the question of law formulated h....