2016 (12) TMI 1910

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..... by a Division Bench of this Court in Cooperative Cane Development Union Ltd. [ 2012 (9) TMI 1250 - ALLAHABAD HIGH COURT] relying on a decision in the case of Totgar's Cooperative Sale Society Ltd. [ 2010 (2) TMI 3 - SUPREME COURT] wherein it was clearly spelt out by the Apex Court that the investment in securities is not a primary object of the cooperative credit society and the objects of the .....

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..... swered are hereunder:- (A) Whether on the facts and circumstances of the case, the Tribunal is justified in upholding the order of the Commissioner of Income Tax (A) in holding that interest earned out of surplus funds lying deposited with the post office and bank qualify for deduction u/s. 80P (2) (d) of the I.T. Act, 1961 as income derived from business and profession? (B) Whether on the facts a .....

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