https://www.taxtmi.com/caselaws?id=278420 The ITAT upheld the CIT(A)'s decisions in the case, dismissing both the revenue's and the assessee's appeals. The Tribunal affirmed that interest on share capital paid to members is an allowable deduction, cooperative banks are not required to deduct TDS on interest payments to members, premium on government securities should be amortized as per RBI guidelines, and losses from bank mergers are not allowable under the Income Tax Act. The ITAT's rulings were in line with previous decisions and statutory provisions. en-us Fri, 12 Jan 2018 00:00:00 +0530 Fri, 01 Feb 2019 06:58:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278420 The ITAT upheld the CIT(A)'s decisions in the case, dismissing both the revenue's and the assessee's appeals. The Tribunal affirmed that interest on share capital paid to members is an allowable deduction, cooperative banks are not required to deduct TDS on interest payments to members, premium on government securities should be amortized as per RBI guidelines, and losses from bank mergers are not allowable under the Income Tax Act. The ITAT's rulings were in line with previous decisions and statutory provisions. Case-Laws Income Tax Fri, 12 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278420