Search Results Page
Search Results
1 - 10 of 13 (0.22 seconds)Section 80P in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
Assam Co-Operative Apex Marketing ... vs Addl. Commissioner Of Income-Tax on 13 July, 1976
The attention of this Court does not seem to have been
drawn to the aforesaid decision while deciding Assam
Cooperative Society's case. With respect, we, therefore,
hold that the view taken therein requires reconsideration as
stated earlier by us. In the result, the order of the
Kerala High Court following the decision of this Court in
Assam Cooperative Societies is reversed. We hold that the
society engaged in the marketing of agricultural produce of
its members would mean not only such societies which deal
with the produce raised by the members who are individuals
or societies which are members thereof who may have
purchased such goods from the agriculturists. Thus, we allow
the civil appeal by setting aside the order made by the High
Court and answering the question referred to us in the
affirmative in favour of the assessee and against t he
revenue. There shall be no order as to costs.
Section 80 in The Income Tax Act, 1961 [Entire Act]
The Meghalaya Co-operative Societies Act
The Finance Act, 2018
Commissioner Of Income-Tax vs Kerala State Co-Operative Marketing ... on 15 February, 1991
Similarly in C.I.T. vs. Kerala State Co-operative
Marketing Federation Ltd. 193 I.T.R. 624, this question was
again considered and the view taken by the Gujarat High
Court to which we have adverted to in the Karjon Cooperative
Soeicty Ltd. case (supra) was reiterated.
Performing Right Society Ltd. & Anr vs Commissioner Of Income-Tax & Others on 10 August, 1976
In Meenachil Rubber Marketing and Processing Co-
operative Society Limited vs. C.I.T. 193 I.T.R. 79, the
Kerala High Court had occasion to examine this short
question and it took the view that the provision had been
incorporate bearing in mind that the exemption had been
granted to encourage vital national activity in the nature
of rural economy in the co-operative sector and therefore,
the incorporated be placed on the provision should advance
that intention. Explaining the meaning of marketing as was
done by the Karnataka High Court to which we have adverted
to earlier, the Kerala High Court was of the view that once
the co-operative society buys the agricultural produce of
the members of the society that buying is the first activity
in the several links of the activities to constitute
marketing by the co-operative society is entitled to
exemption.