https://www.taxtmi.com/caselaws?id=787521 An entity registered under the Karnataka Souharda Sahakari Act, 1997 qualifies as a co-operative society for income-tax purposes, entitling it to deduction under section 80P(2); the Tribunal allowed the deduction. Because such societies fall within the statutory exemption from TDS on interest to members, the disallowance under section 40(a)(ia) for non-deduction of TDS on member interest was deleted. A provision for non-performing assets treated as increasing income was held to be tax-neutral where the increased profits remain eligible for chapter VIA relief, following the clarificatory Circular, and the addition was deleted, resulting in allowance of the appeal. en-us Thu, 05 Mar 2026 00:00:00 +0530 Sat, 07 Mar 2026 08:39:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787521 An entity registered under the Karnataka Souharda Sahakari Act, 1997 qualifies as a co-operative society for income-tax purposes, entitling it to deduction under section 80P(2); the Tribunal allowed the deduction. Because such societies fall within the statutory exemption from TDS on interest to members, the disallowance under section 40(a)(ia) for non-deduction of TDS on member interest was deleted. A provision for non-performing assets treated as increasing income was held to be tax-neutral where the increased profits remain eligible for chapter VIA relief, following the clarificatory Circular, and the addition was deleted, resulting in allowance of the appeal. Case-Laws Income Tax Thu, 05 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787521