M/S. NASHIK DISTRICT INDUSTRAIL & MERCANTILE CO-OP. BANK LTD.,,NASHIK vs. INCOME-TAX OFFICER,,
In the result, appeal of assessee is allowed
ITA 1967/PUN/2016[2012-13]Status: DisposedITAT Pune25 Sept 2018AY 2012-13
Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.1967/Pun/2016 यििाारण वषा / Assessment Year : 2012-13 M/S. Nashik District Industrial & Mercantile Co-Op. Bank Ltd., 1, Shivkamal Appt., Canada Corner, अऩीऱाथी/Appellant Nashik – 422005 …. Pan: Aaaan1531A Vs. The Income Tax Officer, …. प्रत्यथी / Respondent Ward 1(2), Nashik
For Appellant: Shri Sanket JoshiFor Respondent: Shri Pankaj Garg
Section 143(3)Section 194ASection 194A(1)Section 194A(3)(v)Section 40
1]
The learned CIT(A) erred in holding that the assessee co-op, bank was liable to deduct TDS u/s 194A on the interest paid on term deposits to its members and thereby confirming the disallowance u/s 40(a)(ia) without appreciating that the said disallowance was justified.
2]
The learned CIT(A) failed to appreciate that
