Allowing the appeal of the assessee the Court held that; income from sale of goods for public distribution system of State Government under directive of State Government is an ancillary activity. Accordingly entitle to deduction. (AY. 2005 -06)
Kodumudi Growers Co-Operative Bank Ltd. v. ITO (2019) 410 ITR 218 (Mad.)(HC)
S. 80P : Co-Operative Bank- Income from sale of goods for public distribution system of State Government under directive of State Government–Ancillary activity–Entitle to deduction. [S. 80P(1)(2)(a)(i), Tamil Nadu Co-Operative Societies Act, 1983, S.2(13)]