BANK OF INDIA,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, TDS, CIRCLE-51(1), NAGPUR

Appeals are partly allowed/allowed for statistical purposes in above terms

Bench: Shri Satbeer Singh Godara & Dr. Dipak Ripote

3. Briefly stated, the facts of the case are that the assessee is a Nationalised Bank engaged in the banking business. Section 194A mandates that tax has to be deducted at source in respect of interest paid/credited to the account of the customers. A spot verification in some branches of the assessee bank was conducted in March, 2016 and default