PR.COMM.OF INCOME TAX vs. M/S THE JAMMU AND KASHMIR BANK LTD.
The appeals are dismissed
ITA/6/2017HC J&K13 Jul 2023
Bench: HON'BLE MR. JUSTICE SANJEEV KUMAR,HON'BLE MR. JUSTICE JAVED IQBAL WANI
Section 194ASection 194A(3)(f)Section 260ASection 40
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For the foregoing reasons, we hold that ITAT committed no error
of law in confirming the order of CIT(A) deleting the non deduction of TDS on
account of interest on fixed deposits paid to the Jammu Development Authority
even when JDA is a taxable entity. We further hold that the assessee was under
no obligation to deduct TDS
