https://www.taxtmi.com/caselaws?id=275931 The Tribunal allowed the appeal, overturning the disallowances of admission fees and interest payments to nominal members. It held that admission fees were aligned with the society's objectives and directed their allowance under section 80P(2). The Tribunal, referencing the Punjab & Haryana HC, found that nominal members qualify as members for TDS purposes, reversing the AO's disallowance for non-deduction of TDS on interest payments. The decision emphasized the binding nature of judicial precedents, particularly from jurisdictional HCs, influencing the interpretation of 'member' under the Income Tax Act. en-us Mon, 24 Feb 2014 00:00:00 +0530 Thu, 19 Oct 2023 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275931 The Tribunal allowed the appeal, overturning the disallowances of admission fees and interest payments to nominal members. It held that admission fees were aligned with the society's objectives and directed their allowance under section 80P(2). The Tribunal, referencing the Punjab & Haryana HC, found that nominal members qualify as members for TDS purposes, reversing the AO's disallowance for non-deduction of TDS on interest payments. The decision emphasized the binding nature of judicial precedents, particularly from jurisdictional HCs, influencing the interpretation of 'member' under the Income Tax Act. Case-Laws Income Tax Mon, 24 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275931