Law:

Section:

Section 80P of the Income-tax Act, 1961 - Deductions - Income of co-operative societies - Assessment year 1990-91 - Whether once it was found as a fact, on strength of report of auditors on record, that assessee-society was a registered society and its purpose was of collective disposal of labour for discharge of financial and social interest of labourers of that particular area who were its members, deduction as contemplated under section 80P(2)(a)(vi) was allowable to assessee - Held, yes Sanjiv Bansal for the Applicant. ORDER M.M. Kumar, J. - This order shall dispose of I.T.R Nos. 401 & 402 of 1995, 133 of 1996, and 52 of 1997 as common question of law and facts have been raised. These references have been made under section 256(1) of the Income-tax Act, 1961 (for short 'the Act'). 2. Facts have been taken from ITR Nos. 401 and 402 of 1995. 3. The Income-tax Appellate Tribunal, Amritsar Bench, Amritsar (for short 'the Tribunal'), at the instance of revenue, has referred the following question of law for adjudication of this Court arising out of order passed by it in ITA No. 779(ASR)/1994 for the assessment year 1990-91:- "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in confirming the order of the learned first Appellate Authority granting exemption to the assessee-society under section 80P(2)(a)(vi ) of the Income-tax Act, 1961?" 4. It is appropriate to mention that the Tribunal has accepted the plea of the assessee that the whole of its income was qualified for exemption under section 80P(2)(a)( vi) of the Act and the purpose of the society was collective disposal of labour for discharge of financial and…

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