https://www.taxtmi.com/caselaws?id=240093 The Tribunal ruled that the 95% surplus distributed by the assessee trusts to SHGs is not taxable, as it falls under the principles of mutuality. Additionally, the Tribunal held that the assessee trusts are not obligated to deduct TDS under section 194A when making interest payments to SNBFCL, as the ultimate payers of the interest are the SHGs, which are mutual concerns. The Commissioner of Income-tax (Appeals) decision was affirmed, and the Revenue's appeals were partly allowed. en-us Tue, 05 Feb 2013 00:00:00 +0530 Tue, 26 Nov 2013 08:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240093 The Tribunal ruled that the 95% surplus distributed by the assessee trusts to SHGs is not taxable, as it falls under the principles of mutuality. Additionally, the Tribunal held that the assessee trusts are not obligated to deduct TDS under section 194A when making interest payments to SNBFCL, as the ultimate payers of the interest are the SHGs, which are mutual concerns. The Commissioner of Income-tax (Appeals) decision was affirmed, and the Revenue's appeals were partly allowed. Case-Laws Income Tax Tue, 05 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240093