VIRUDHUNAGAR CENTRAL DISTRICT CO-OPERATIVE BANK,VIRUDHUNAGAR vs. ITO, VIRUDHUNAGAR

In the result, the appeals of the assessee for both the years are

Bench: Shri N.R.S. Ganesan, Shri Abraham P. George & Shri A.Mohan Alankamony] आयकर अपील सं./I.T.A. Nos.2055 & 2056/Chny/2014 "नधा"रण वष" /Assessment Years :2012-13 & 2013-2014. The Virudhunagar District Vs. The Income Tax Officer, Central Co-Operative Bank Ltd, Tds Ward, 104/1, Madurai Road, Virudhungar. Virudhunagar 626 001. [Pan Aaaau 0147N] (अपीलाथ"/Appellant) (""यथ"/Respondent)

v JCIT Range-1(ITA No.85/PNJ/2013,ITAT, Panaji Bench) dated 28-08-2013 In this case the appellant, a co-operative society engaged in business of the banking had paid interest on time deposits to its members without deducting tax u/s 194A. The AO applied the provisions of section 40(a)(ia) and disallowed the corresponding expenditure with the finding