No TDS on Interest paid by Cooperative Society to Member: ITAT upholds Disallowance u/s 40(a)(ia) made by CIT(A) [Read Order]

By Taxscan Team - On July 22, 2022 3:20 pm - 2 mins read

TDS - interest - cooperative society - member - ITAT - disallowance - CIT(A) - taxscan

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that no TDS on interest paid by cooperative society to members and upheld the disallowance u/s 40(a)(ia) of the Income Tax Act,1961 made by the CIT(A). The appellant revenue challenged the order of Commissioner of Income Tax (Appeals), Salem-7 [CIT(A)] dated 12.02.2016 where the…

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