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2018 (10) TMI 1170 - AT - Income TaxTDS u/s 194A - liability of TDS on Co-operative Society, carrying on banking business with approval of the Reserve Bank of India on interest paid to its members - distinction between a cooperative bank and a co-operative society carrying on banking business - Held that:- The issue raised before us is the same as the substantial question of law considered by the Hon’ble Jurisdictional High Court in the case of The Coimbatore District Central Co-operative Bank Ltd[2016 (1) TMI 370 - MADRAS HIGH COURT] and it stands answered in favour of the assessee. Having answered the question raised, in the normal course the appeals should have been reverted to the division Bench for disposal. However the only issue raised by the assessee in the impugned appeals having been answered, no useful purpose will be served in following such process. We therefore hold that the assessee was not obliged to deduct tax at source on the interest payments made to its members for the impugned assessment years. - Decided in favour of assessee.
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