Supreme Court · 1996 INSC 102 · Decided 19 January 1996
The Madhya Pradesh Co-Operative Bank LTD. Jabalpur ETC. v. The Additional Commissioner of Income TAX. ETC.
- Court
- Supreme Court of India
- Citation
- 1996 INSC 102 · [1996] 1 S.C.R. 773
- Case number
- CIVIL APPEAL No. 1116/1979
- Decided
- 19 January 1996
- Bench
- A.M. AHMADI, B.L. HANSARIA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 81
Headnote
MADHYA PRADESH CO-OPERATIVE· A BANK LTD. JABALPllR ETC. v. THE ADDITIONAL COMMISSIONER OF INCOME TAX. ETC. JANUARY 19, 1996 B , [A.M. AHMADI, CJ! AND B.L. HANSARIA, J.] < Income Tax Act, 1961 S.Sl(New s.SOP)-Income of Co-operative society-Exemption from c tax-Co-operative society stock-in-trade or working/circulating capital--lncome de1ived therefrom cannot qualify for exemption from tax. D The appellant-assessee, a co-operative society controlling all the District Co-operative Banks in the State of Madhya Pradesh, filed retnrns for the relevant assessment years claiming
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