Full Judgment Text & Judicial Ruling

Court Name: Supreme Court of India Judge(s): S. P. Bharucha, D. P. Mohapatra Title:MADRAS AUTO RICKSHAW DRIVERS' COOPERATIVE SOCIETY vs COMMISSIONER

OF INCOME-TAX Case No.: Tax Cases Nos.1234 and 1246 of 1977 Date of Judgment:1998-12-10 Reported As: 2001 PTD 3408 Result: Appeals dismissed Judgment ORDER Heard learned counsel for the appellant and read the judgment under appeal. While we sympathise with what the assessee is doing, we do not think that its activity can be said to provide "credit facilities" to its members. Therefore, the High Court has rightly held that the provisions of section 80P of the Income Tax Act, 1961, are not applicable. The appeals are dismissed. No order as to costs. .

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