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2011 (9) TMI 1068 - AT - Income TaxTDS u/s 194A - payment of dividend to the subscribers of a chit - Held that:- CIT(A) is justified in holding that the payment of dividend to the subscribers of a chit towards dividend does not partake the character of interest and accordingly the assessee is not liable to deduct TDS u/s. 194A of the Act and not liable for interest u/s. 201(1) and 201(1A) of the Act.
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