THE DY. COMMISSIONER INCOME-TAX, JAMMU vs. M/S. THE JAMMU & KASHMIR BANK LTD,, SRINAGAR
The appeals are dismissed
ITA 298/ASR/2014[2009-10]Status: DisposedITAT Amritsar03 Jan 2018AY 2009-10
Bench: Sh. T. S. Kapoor & Sh. N. K. Choudhryi.T.A. No. 298/(Asr)/2014 Assessment Year: 2009-10 Pan: Aaact6167G Dy. C. I. T., Vs. M/S. The Jammu & Kashmir Circle-1, 2Nd Floor Aayakar Bank Ltd., Corporate Head Bhawan, Railhead Complex, Quarters, M. A. Road, Jammu. Srinagar. (Appellant) (Respondent)
For Appellant: Sh. S. S. Kanwal (D. R.)For Respondent: Written Submissions
Section 14ASection 40Section 40a
section 194A(3)(iii)(f) of the Act and as per notification, the Jammu Development Authority is a creation of J & K Development Act and satisfies the condition at Entry No.39 of the said notification and we hold that no tax was deductible on accrued interest on FDRs of Jammu
Development Authority with J & K Bank Ltd. Keeping in view
