In the result, the appeal of the assessee is Partly Allowed
Bench: DR.DIPAK P. RIPOTE (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)
TDS return. The main objective of this scheme is to culture the habit of saving in to the members of the society. Now, as per pigmy deposit scheme norms, members cannot withdraw such deposited amount till the expiry of six month from the date of deposits and if any members withdraw cash before end of six month from date