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Exp. incurred by co-operative society in furtherance of its object was allowable deduction

January 18, 2019[2019] 101 taxmann.com 169 (Delhi)

IT/ILT : Where multi-State co-operative society was undertaking object of carrying-out social development activities for village poor by way of undertaking projects in forestry development, developing water harvesting systems and main objective of assessee was to carry-out social development and welfare activities and assessee had incurred expenditure for rural development, generation of additional employment, women’s empowerment and in development and construction of water reservoirs which was clearly incurred to carry out purpose and objective for which co-operative society was established, said expenditure would qualify for deduction under section 37(1)

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