CITIZENCREDIT CO OPERATIVE BANK LIMITED ( BORIVILI BRANCH),MUMBAI vs. ITO (TDS)1(1)(4), MUMBAI

In the results, all the appeals of the assessee are dismissed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

1)(b) and section 194A(3)(viia)(b) of the Act, can take the benefit of general exemption provided to all co-operative societies from deduction of tax on payment of interest to members. The matter was carried to judicial forums and in some cases a view has been taken that the provisions of section 194A(3)(viia)(b