TMI Blog2003 (7) TMI 49X X X X Extracts X X X X X X X X Extracts X X X X ..... ypes of co-operative societies made mention of in clause (viia)(a) of sub-section (3) of section 194A – Thus, the respondent-society will not be liable in terms of sub-section (1) of section 194A - learned single judge as per the impugned judgment, quashed the notices holding that going by the provisions contained in section 194A(3)(viia)(a) of the Income-tax Act, 1961, the writ petitioners were n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... espect of every payment exceeding Rs. 10,000, at the relevant point of time. The learned single judge as per the impugned judgment, quashed the notices holding that going by the provisions contained in section 194A(3)(viia)(a) of the Income-tax Act, 1961, for short "the Act", the writ petitioners were not liable to deduct income-tax at source in respect of the interest so paid, as sub-section (3) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns of sub-section (1) shall not apply- (viia) to such income credited or paid in respect of,- (a) deposits with a primary agricultural credit society or a primary credit society or a co-operative land mortgage bank or a co-operative land development bank; (b) deposits (other than time deposits made on or after the 1st day of July, 1995) with a co-operative society, other than a co-operative ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t income-tax, as such society is under sub-section (3) taken out of the purview of section 194A(1) of the Act. Therefore, the writ appeal fails, dismissed. W.A. No. 2207 of 1998: A reading of the impugned judgment discloses that the writ petitioner, the first respondent, was conceded to be an agricultural co-operative society. Consequently, it comes within the purview of clause (viia)(a) of su ..... X X X X Extracts X X X X X X X X Extracts X X X X
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