The contexts in which cooperative societies in appears the document under the Andhra Pradesh Mutually Aided registrar of cooperative society Act on 31.5.1997. Thereafter, the society on 26.7.2005 was registered in pursuance of the credit cooperative society Act, 2002 and extended its operations to the state of Maharashtra and Karnataka. He drew our attention to the bye laws as modified and as registered with the multi state cooperative society Act. He submitted that all the clauses of the Bye laws are in accordance with the provisions of the cooperative society Act, 2002. Clause 5 deals with the objects of the society. The same are extracted hereunder Objects 1. The principal object of the society will be to promote the interest of all its members to attain their social and economic betterment through self help and mutual aid in accordance with the cooperative principles. 2. The objectives of the society shall be engaged and carry in any one or more of the following forms and business. (i) To serve the interests of members of the society residing in the state of AP and Maharashtra and Karnataka. ii) To encourage thrift, self help and cooperative among members iii) to accept deposits of money from the members for the purpose banking transactions. Therefore the society is purely mutually aided society working only for the benefit of its members. 5.16. The assessed counsel submitted that its only business is with its members. The receipt and payments also are with them. The activities are carried on as per the bye laws accepted by the members. The very objective of the cooperative movement is to provide service through self help. He placed reliance on the following judgments: 1. CIT Vs. Merchant Navy Club (96 ITR 261) (AP) wherein it was held that there was identity between the contributors to the common fund and the participators in the surplus and that such an institution is held to be a mutual benefit association. 2. CIT vs. Natural Finance Corporation (139 ITR 732) (AP) 3. Addl. CIT, AP, Hid. Vs. Secunderabad Club (150 ITR 401) (AP). 5.17. He submitted that in all the cases the Hon'ble High Court observed that where the contributors to the fund are beneficiaries, it is a mutual benefit multi state society. In the case of assessed the members deposit the money, receive interest, the members take loan, pay interest and if there is any balance, the dividend is collected by disqualification for a Member of a Board.