Supreme Court · 1989 INSC 51 · Decided 10 February 1989
Commissioner of Income Tax, Lucknow v. U.P. Cooperative Federation LTD.
- Court
- Supreme Court of India
- Citation
- 1989 INSC 51 · [1989] 1 S.C.R. 586
- Case number
- CIVIL APPEAL No. 1228/1975
- Decided
- 10 February 1989
- Bench
- R.S. PATHAK, RANGANATH MISRA (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 14(3)(iii), 14(3)
Headnote
COMMISSIONER OF INCOME TAX, LUCKNOW v. U.P. COOPERATIVE FEDERATION LTD. FEBRUARY 10, 1989 [R.S. PATHAK, CJ AND RANGANATH MISRA, Jc] Income Tax Act, 1922: s. 14(3)(iii)/Income.Tax Act, 1961: S. BOP (2)(d) -Assessee-Apex Cooperative Society----Cash security-Furnished to manufacturer Cooperative Words and Phrases: 'Investment'-Meaning of-s. 14(3)(iii), Income Tax Act, 1922. Clause (iii) of Section 14(3) of the Income Tax Act, 1922 exempts interest and dividends derived by a cooperative society from its invest­ ments with any other cooperative society, from payment of tax. The
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