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2015 (7) TMI 719 - AT - Income TaxDenial of exemption from sec. 194A in respect of payments of interest to Members - assessee is a cooperative bank engaged in the business of banking - Held that:- Considering all the facts in totality in the light of the memorandum explaining the provisions in the Finance Bill 2015 and the clarification by the Board that the Circular has not been withdrawn, makes it ample clear that the impugned provisions relating to the liability of TDS would come with effect from 01/06/2015, we, therefore, set aside the findings of the Ld. CIT(A) and direct the Assessing Officer to delete the impugned additions made in the order u/s. 201(1) & 201(1A) of the Act. - Decided in favour of assessee.
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