Income Tax Officer(TDS), Hubli vs. General Managar, Hubli
In the result, the appeals of the Revenue as well as the Cross-objection of the Assessee are dismissed
ITA 1192/BANG/2014[2010-11]Status: DisposedITAT Bangalore20 Mar 2015AY 2010-11
Bench: Shri. N. V. Vasudevan & Shri. Jason P. Boazi.T.A No.1191 To 1194/Bang/2014 (Assessment Year : 2009-10 To 2012-13) The Income Tax Officer (Tds) 3Rd Floor, Cr Bldg.Annexe, Navanagar, Hubli-580 025 .. Appellant Vs. The Hubli Urban Co-Operative Bank Ltd. Gf, Urban Bank Building, 1 Sir Siddappa Kambli Road, Hubli 580 020 .. Respondent Pan : Aaaah0120P C.O.Nos. 25 To 28/Bang/2015 In I.T.A No.1191 To 1194/Bang/2014 (Assessment Year : 2009-10 To 2012-13) The Hubli Urban Co-Operative Bank Ltd. Gf, Urban Bank Building, 1 Sir Siddappa Kambli Road, Hubli 580 020 .. Cross-Objector Pan : Aaaah0120P Vs. The Income Tax Officer (Tds) 3Rd Floor, Cr Bldg.Annexe, Navanagar, Hubli-580 025 .. Respondent Assessee By : Shri. G.V.Desai, Ca 1
For Appellant: Shri. G.V.Desai, CAFor Respondent: Dr.P.K.Srihari, Addl.CIT
Section 194Section 194ASection 194A(1)Section 201Section 201(1)Section 51
…ibunal. 12. We have heard the rival submissions. At the time of hearing of the appeal, it was brought to our notice by the learned counsel for the Assessee that the Bangalore Bench of ITAT in the case of Bagalkot District Central Co-op Bank, Vs. JCIT (2014) 48 Taxmann.com 117 (Bangalore-Trib) held that co- operative societies carrying on banking business while paying interest to members on time deposits and deposits other than time deposits need not deduct tax at source u/s.194-A of the Act by virtue of exemption granted u/s.194A(3)(v) of the Act. The learned DR relied on the stand taken by the Revenue in th…
