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Section 80P(2)2 Section 80P2

ASSTT.COMMISSIONER OF INCOME TAX CIRCLE-5, NAGPUR vs. THE NIRMAL UJWAL CREDIT CO-OP SOCIETY LTD, NAGPUR

In the result, appeal filed by the Revenue for the assessment year

ITA 390/NAG/2019[2012-13]Status: HeardITAT Nagpur27 Nov 2024AY 2012-13

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Manoj G. MoryaniFor Respondent: Shri Vikash Agrawal

Section 139(1)Section 143(1)Section 143(2)Section 80PSection 80P(2)

capital, if not immediately required to be lent to the members, the society cannot keep the said amount idle. If they deposit this amount in bank so as to earn interest, the said interest income is attributable to the profits and gains of the business of providing credit facilities to its members only. The society is not carrying