Case Name : CIT vs. Coral mills workers co-operative stores ltd.
Citation : [1977] 106 ITR 868 (mad.)
Court : Madras high court
Section : 80P
Meaning : A ‘credit society’ within the meaning of section 14(3)(i) of the 1922 act and section 81(i) of the 1961 act could only mean a society which provides credit by way of loans of money to its members and not a society which sells goods on credit.