Number of Associate Members of Cooperative Society continued to be more than 15% of Total membership...

The ITAT has ruled that if the "number of associate members of a cooperative society" continues to be "more than 10% of the total membership," it is "violative of the Income Tax Act," and has "directed to verify the matter." The tribunal's decision, which is a significant victory for the company, was made on the grounds that the company's claim was not supported by evidence. The ruling clarifies that a tax authority can't add a tax to a company's account without a valid reason.