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2012 (12) TMI 727 - AT - Income TaxNon deduction of TDS on interest accrued on FDRs - Interest charged u/s 201/201(1A) - Held that:- The Jammu Development Authority is in exempted category where the provisions of section 194(1) are not applicable. Also that exception provided in section 194A(3)(iii)(f) and as per notification No.3489 dated 22.10.1970 the Jammu Development Authority is a creation of J & K Development Act and satisfies the condition at Entry No.39 of the said notification thus uphold that no tax was deductible on accrued interest on FDRs of Jammu Development Authority with J & K Bank Ltd - in favour of assessee.
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