Eligibility of deduction under section 80P on Profit to society from storing of trading goods

Where the assessee-society was storing the controlled commodities in its godowns as part of its own trading stock, it was not entitled to claim deduction for the margin of profit between issue price and sale price of the controlled commodities under section 80P(2)(e). FULL TEXT OF THE CASE LAW IS AS FOLLOWS:- IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO. 4399 OF 2009 (Arising out of S.L.P.(C) No.23889 of 2007) Udaipur Sahkari Upbhokta Thok Bhandar Ltd. Versus Commissioner of Income-tax   Date of Judgment: July 16, 2009  J U D G M E N T ...