Assessee received various grants from West Bengal State Government. It was a Government of West Bengal Undertaking which was an apex body over Societies like assessee. Miscellaneous incomes mainly constituted grants received from West Bengal Government for various activities as per its required byelaws, since the sum of Rs. 2,09,92,664/- was income earned by the Society for the purpose of its object, it was eligible for deduction under Section 80P of the Income-tax Act, 1961. (AY. 2017 -18)
Udyan Large Size Multipurpose Co-op. Society Ltd v. ITO [2024] 109 ITR 586(SMC) (Kol)(Trib)
S. 80P : Co-operative societies – Grants –Miscellaneous income cannot be assessed as income from other sources – Eligible for deduction. [S. 56]