Meaning of “Activities”

Case Name : Kottayam co-operative land mortgage bank ltd. Vs. CIT

Citation : [1988] 40 taxman 259/172 ITR 443 (ker.)

Court : Kerala high court

Section : 80P

Meaning : The word ‘activity’ is wider than the word business. It connotes a specified form of supervised action or field of action. Read in the context of the profit-earning activity of a co-operative society, it means the corporate activity of the society, that is to say, the combination of operations undertaken by the co-operative society whether or not they amount to a business, trade or profession in the ordinary sense.

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