1995 (8) TMI 39 - HC - Income Tax

Summary

The High Court of Allahabad ruled that the income of a co-operative society from service charges for arranging credit facilities for non-member cane growers was not exempt from tax under section 80P of the Income-tax Act, 1961. The decision was based on a previous judgment regarding a similar issue. The court rejected the argument based on a different case and directed the judgment to be sent to the Tribunal Registrar as per section 260 of the Act.