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2015 (7) TMI 614 - AT - Income TaxTDS on payments made to members on time and other deposits where the payment exceeded ₹ 10,000 per annum in the case of each of such depositor u/s.194A - Assessee is a Co-operative Bank carrying on the business of banking - Held that:- Tribunal in the case of Bagalkot District Central Co-operative Bank (2015 (1) TMI 1005 - ITAT BANGALORE ) dealt with identical issue and identical stand taken by the revenue and the Assessee in the case of co-operative society engaged in banking business and have upheld identical order of CIT(A) to hold that the Assessee which is a co-operative society carrying on banking business when it pays interest income to a member both on time deposits and on deposits other than time deposits with such co-operative society need not deduct tax at source under section 194A by virtue of the exemption granted vide clause (v) of sub-section (3) of the said section - Decided in favour of assessee.
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