Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
The ITAT held that under Section 194A(3)(v), a co-operative society is exempt from TDS on interest paid to another co-operative society, provided its gross turnover does not exceed Rs. 50 crores in the relevant financial year. The exemption excludes co-operative banks but applies to co-operative housing societies. The matter was remitted to the AO to verify the assessee's gross turnover against the statutory threshold and to examine the nature of deposits under Section 194A(3)(viia). Subject to these verifications, relief from TDS liability shall be granted. The appeal was allowed on this limited ground for statistical purposes.
The ITAT held that under Section 194A(3)(v), a co-operative society is exempt from TDS on interest paid to another co-operative society, provided its gross turnover does not exceed Rs. 50 crores in the relevant financial year. The exemption excludes co-operative banks but applies to co-operative housing societies. The matter was remitted to the AO to verify the assessee's gross turnover against the statutory threshold and to examine the nature of deposits under Section 194A(3)(viia). Subject to these verifications, relief from TDS liability shall be granted. The appeal was allowed on this limited ground for statistical purposes.
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