M/S. SYNDICATE BANK,BANGALORE vs. ADDITIONAL COMMISSIONER OF INCOME TAX (TDS), RANGE- 3, BANGALORE
In the result, all the appeals by the assessees are allowed
ITA 404/BANG/2020[2013-14]Status: DisposedITAT Bangalore05 Oct 2020AY 2013-14
Bench: Shri N.V. Vasudevan & Shri B.R.Baskaran
For Appellant: Mr. S. Ananthan & Ms. Lalitha Rameswaran, CAsFor Respondent: Ms. R. Premi, JCIT SR.DR(ITAT), Bengaluru
Section 10Section 10(5)Section 271Section 271C
TDS:-
“10. In the instant case, the assessee is a Cooperative Bank.
Clause 5 of sub-section (3) of Section 194A expressly exempts the Bank from deducting the tax at source on interest payable by the Bank to its members and other
Cooperative Societies. As stated by the assessee, they did not properly construe this provision. By mis-construing this
