ITAT Allows Welfare Society to Adjust Its Member Benefit Payments Against Taxable Interest Receipts

ITAT Allows Welfare Society to Adjust Its Member Benefit Payments Against Taxable Interest Receipts The Income Tax Appellate Tribunal (ITAT), Delhi, has ruled in favour of a society trust by allowing it to set off the payments made for member benefits, such as death claims, pension, and retirement benefits, against its interest income. The assessee,…