https://www.taxtmi.com/forum/issue?id=927 Dividends received by cooperative bank members are income in the hands of shareholders and not covered by the discussed dividend exemption. A cooperative bank may claim dividends paid to members as business expenditure under general deduction principles because such payments can satisfy allowability tests and are not expressly disallowed by the referenced disallowance provisions, but the claim is fact-sensitive and may provoke disputes with tax authorities. en-us Sat, 11 Oct 2008 12:37:22 +0530 Thu, 23 Jan 2025 15:58:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=927 Dividends received by cooperative bank members are income in the hands of shareholders and not covered by the discussed dividend exemption. A cooperative bank may claim dividends paid to members as business expenditure under general deduction principles because such payments can satisfy allowability tests and are not expressly disallowed by the referenced disallowance provisions, but the claim is fact-sensitive and may provoke disputes with tax authorities. Discussion-Forum Income Tax Sat, 11 Oct 2008 12:37:22 +0530 https://www.taxtmi.com/forum/issue?id=927