https://www.taxtmi.com/caselaws?id=770799 ITAT Pune held that cooperative bank was not required to deduct TDS on interest paid to nominal members under section 194A(3)(v) exemption. The tribunal ruled that Maharashtra Cooperative Societies Act includes nominal members within the definition of members, making them eligible for TDS exemption. CIT(A)'s deletion of addition under section 40(a)(ia) was upheld. Additionally, the tribunal dismissed revenue's ground regarding mutuality principle, noting the assessing officer made no specific findings on mutuality and relied on a decision that was subsequently set aside by coordinate bench. en-us Tue, 22 Apr 2025 00:00:00 +0530 Fri, 16 May 2025 08:40:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770799 ITAT Pune held that cooperative bank was not required to deduct TDS on interest paid to nominal members under section 194A(3)(v) exemption. The tribunal ruled that Maharashtra Cooperative Societies Act includes nominal members within the definition of members, making them eligible for TDS exemption. CIT(A)'s deletion of addition under section 40(a)(ia) was upheld. Additionally, the tribunal dismissed revenue's ground regarding mutuality principle, noting the assessing officer made no specific findings on mutuality and relied on a decision that was subsequently set aside by coordinate bench. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770799