PR.COMM.OF INCOME TAX vs. M/S THE JAMMU AND KASHMIR BANK LTD.

The appeals are dismissed

Bench: HON'BLE MR. JUSTICE SANJEEV KUMAR,HON'BLE MR. JUSTICE JAVED IQBAL WANI

3 of the Uttar Pradesh Industrial Area Development Act, 1976. The Canara Bank was the banker of the Authority. The Bank made a payment of Rupees Twenty cores ten lacs as interest to NOIDA on fixed deposits for the financial year 2005-06. The Canara Bank, however, did not deduct TDS in terms of Section 194A

THE COMMISSIONER OF INCOME TAX vs. THE JAMMU AND KASHMIR BANK LTD.

Bench: HON'BLE MR. JUSTICE SANJEEV KUMAR,HON'BLE MR. JUSTICE PUNEET GUPTA

TDS-I), Chandigarh [‘the appellant’] in this appeal. 4. The substantial question of law, which is a sine quo non for maintaining an appeal under Section 260A of the Act, as proposed by the appellant, reads thus: “Whether for the purpose of obtaining exemption under Section 194A(3