Provision of S. 40A(2) are not applicable to co-operative society, accordingly no disallowance can be made for alleged excess payment. (AY. 2009-10)
DCIT v. Ganesh Khand Udyog Sahakari Mandali Ltd. (2019) 174 ITD 135 (Surat)(Trib.)
S. 40A(2) : Expenses or payments not deductible–Excessive or unreasonable – Provisions are not applicable to co-operative society. [S. 40A(2)(b)]