https://www.taxtmi.com/caselaws?id=103462 The Tribunal upheld the CIT(A)'s decision to consider the society's income at nil, based on the accounting method for interest income and the allowance of expenses and interest payable to members. The Revenue's appeal against the direction to assess income at nil was dismissed, as the CIT(A) found that interest income was accounted for on a receipt basis, expenses were valid, and no taxable income existed for the society after considering all relevant factors. en-us Wed, 27 Jun 2001 00:00:00 +0530 Wed, 22 Feb 2012 18:44:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103462 The Tribunal upheld the CIT(A)'s decision to consider the society's income at nil, based on the accounting method for interest income and the allowance of expenses and interest payable to members. The Revenue's appeal against the direction to assess income at nil was dismissed, as the CIT(A) found that interest income was accounted for on a receipt basis, expenses were valid, and no taxable income existed for the society after considering all relevant factors. Case-Laws Income Tax Wed, 27 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103462