https://www.taxtmi.com/caselaws?id=251482 Directors' allowance was found to have been disallowed by applying provisions meant for firms or AOPs, which do not apply to a co-operative bank, so the matter was remitted for fresh examination on the merits. Interest disallowance under section 40(a)(ia) for alleged failure to deduct tax at source was also sent back because the record was insufficient to determine whether payments to members fell within the section 194A exemption or statutory threshold. By contrast, the 30% ad hoc disallowance of election expenses was upheld for want of supporting evidence, and the provision relating to investment in City Cooperative Bank was sustained because no applicable RBI direction for the relevant year was shown. en-us Thu, 21 Aug 2014 00:00:00 +0530 Tue, 16 Sep 2014 11:01:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251482 Directors' allowance was found to have been disallowed by applying provisions meant for firms or AOPs, which do not apply to a co-operative bank, so the matter was remitted for fresh examination on the merits. Interest disallowance under section 40(a)(ia) for alleged failure to deduct tax at source was also sent back because the record was insufficient to determine whether payments to members fell within the section 194A exemption or statutory threshold. By contrast, the 30% ad hoc disallowance of election expenses was upheld for want of supporting evidence, and the provision relating to investment in City Cooperative Bank was sustained because no applicable RBI direction for the relevant year was shown. Case-Laws Income Tax Thu, 21 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251482