Court Upholds Rejection of TDS Exemption u/s 197; Interest Nature Unchanged, Article 289 Prevails.

Exemption certificate for non deduction of TDS u/s 197 rejected - there has been no change in the nature of interest earned on the funds provided by the State Government which have gone in the Bank and it is not open to the Department to come to a different conclusion in view of the overriding effect of the provisions of Article 289 of the Constitution of India. - HC .....

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