Query regarding taxation

If your client is non-resident for the AY concerned then no need to file ROI with Indian IT Deptt......if the your client is resident then the income earned from US is exempt to certain extent as per Indian US treaty.Therefore, if the person is India resident then filling of ROI is must and he also need to dislose which he is holding outside India.

Section 80 P of the Income tax Act 1961

Under section 80 P of the Income tax act profits and gains from specied activities are deductable .

But what will be the Consequences if The cooperative society incurres Loss on the Specified activity and earns profit on Non specified Activities  then is the Loss of the Specified activity can be setoff against the profit of non specified activity  of society to compute the Total Income of  the Cooperative Society . Can any case Law Is available in this regard .