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2016 (9) TMI 308 - ALLAHABAD HIGH COURT

2016 (9) TMI 308 - ALLAHABAD HIGH COURT - TMI - TDS u/s 194A on Interes - Whether NOIDA is a corporation established by U.P. Industrial Area Development Act, 1976 and not a body established under the aforesaid Act - Held that:- NOIDA has been granted a status of a Municipality under Article 243-Q of the Constitution of India which deals with the constitution of a Municipality. - Notification dated 24 December 2001 provides that having regard to the size of NOIDA which has been declared to be .....

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we its existence to an Act of the State. - The NOIDA has been constituted by the State Act and, therefore, entitled to exemption of payment of tax at source under section 194-A(1) of the Act. See Commissioner of Income Tax (Tds) And Another Versus Canara Bank [2016 (5) TMI 570 - ALLAHABAD HIGH COURT]- Decided against the revenue. - Income Tax Appeal No. 179 of 2016 - Dated:- 23-8-2016 - Hon'ble Sudhir Agarwal And Hon'ble Kaushal Jayendra Thaker, JJ. For the Appellant : Ashok Kumar Fo .....

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ase mentioned above and in law, the ITAT Delhi was correct in ignoring the ratio laid down by Hon'ble Supreme Court in the case of Adityapur Industrial Area Development Authority vs. Union of India & Others (2006) INSC 273 (3 May, 2006). (C) Whether on the facts of the case mentioned above and in law, the ITAT Delhi was correct in ignoring the dismissal of Writ Petition No.1338 of 2005 filed by Noida wherein in specific prayer of NOIDA seeking exemption from Section 194A in respect of ta .....

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yed as on date by Hon'ble Supreme Court of India." 3. This appeal has arisen from judgment and order dated 12.1.2016 passed by Income Tax Appellate Tribunal, Delhi Bench E, New Delhi, holding that New Okhla Industrial Development Authority (hereinafter referred to as "NOIDA") is a 'Corporation' established by U.P. Industrial Area Development Act, 1976 (hereinafter referred to as "State Act") and, therefore, entitled for benefit of exemption and payment of int .....

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