CANARA BANK, PANAJI BRANCH,PANAJI vs. ASSISTANT COMMISSIONER OF INCOME TAX, TDS, CIRCLE, PANAJI

Appeals are dismissed as withdrawn and Revenue’s appeal is dismissed

Bench: Shri Satbeer Singh Godara & Shri G.D. Padmahshali

v. The ld. CIT(A) has erred in not considering the fact that the deductor has violated the provisions of section 194A of I.T Act 1961. The section 194A has made it clear that where the payment of interest exceeding Rs.10,000/- during the particular F.Y., TDS at the rate of 10% has to be deducted by the deductor