JUDGMENT U.L. Bhat, C.J. 1. The assessee has filed this application under Section 256(2) of the Income-tax Act, 1961 (for short, "the Act"). 2. The applicant is a multipurpose transport co-operative society. Its sole activity is plying stage carriage buses on hire. The society has a building, a part of which has been let out and it is deriving house rent also. The assessment year concerned is 1977-78. The income of the house property was wholly added to the total income for purposes of assessment. The assessment order was confirmed by the Commissioner in appeal and the Appellate Tribunal in further appeal. The Appellate Tribunal also declined to make a reference under Section 256(1) of the Act. Hence, this application. 3. According to the petitioner, the questions arising in the case is whether the Tribunal is justified in interpreting the bye-laws of the society and holding that the deriving of income from house property is not one of the objects of the society and, therefore, the house property income is not entitled to be deducted from the total income under Section 80P(2)(c) of the Act and that this question is a question of law, arising in the case. 4. Section 80P relates to deduction in respect of income of co-operative societies. Sub-section (2)(a) relates to co-operative societies engaged in activities specified in Sub-clauses (i) to (vii). In these cases, the whole of the amount of profits and gains of business attributable to any one or more such activities is to be deducted from the total income. 5. Section 80P(2)(b) relates to co-operative societies, being primarily cooperative societies engaged in supplying milk, oilseeds, fruits or vegetables raised or grown by its members to federal co-operative societies or Government or local authority or Government company, etc. In such a case, the whole of the amount of profits and gains of such business has to be deducted from the total income. 6. We are concerned in this case with Section 80P(2)(c) which relates to co-operative societies engaged in activities other than those specified in Clause (a) or (b), either independently of, or in addition to, all or any of the specified activities. In such cases, so much of the profits and gains attributable to such activities as do not exceed the limits specified in sub- Clause (i) or (ii) shall be deducted from the total income. 7. In such cases, so much of the profits and gains attributable to such activities as do not exceed the limits specified in sub- Clause (i) or (ii) shall be deducted from the total income. 7. The matter is covered by a direct decision of the High Court of Kerala in Kottayam Co-operative Land Mortgage Bank Ltd. v. CIT [19881 172 ITR 443, decided by K. S. Paripoornan and M. Fathima Beevi JJ., as they then were. The case related to the co-operative land mortgage bank which, besides the income from its activities, derived income from letting out the surplus space of the building. It was held that the activity referred to in the provision of law meant corporate activity of the society, that is to say, the combination of operations undertaken by the society and the letting of surplus space in a building owned or used by an assessee is not an activity falling under Clause (c). 8. There are a few decisions of this court under Section 80P(2)(a) in relation to banking co-operative societies. This court has held that income attributable to non-banking activity is not liable to be deducted. ( See CIT v. Bhopal Co-operative Central Bank Ltd, [1988] 172 ITR 423 (MP) and CIT v. Dhar Central Co-operative Bank [1984] 149 ITR 438 (MP)). The meaning and content of the words "profits and gains attributable to such activities" occurring in Section 80P(2)(c) is so patent and clear that no room for any debate is left. 9. In the circumstances, we hold that the question of law suggested does not arise in the case. Accordingly, the petition is dismissed.