M/S THE DISTRICT CO-OPERATIVE CENTRAL BANK LTD.,ELURU vs. THE ITO, WARD-2, ELURU, ELURU

In the result, the appeals filed by the assessee in ITA No

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singh

TDS and assessee failed to deduct the tax at source. Therefore, we do not have any hesitation to uphold the order of the Ld. CIT(A) and the assessee’s appeal on this ground is dismissed. 22. Ground Nos.5 & 6 are related to the addition of ` 12,52,25,946/- relating overdue interest on Non performing assets. This issue

THE ACIT,, ELURU vs. M/S. THE DISTRICT CO - OPERATIVE CENTRAL BANK LTD., ELURU

In the result, the appeals filed by the assessee in ITA No

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singh

TDS and assessee failed to deduct the tax at source. Therefore, we do not have any hesitation to uphold the order of the Ld. CIT(A) and the assessee’s appeal on this ground is dismissed. 22. Ground Nos.5 & 6 are related to the addition of ` 12,52,25,946/- relating overdue interest on Non performing assets. This issue

M/S THE DISTRICT CO-OPERATIVE CENTRAL BANK LTD.,ELURU vs. THE ITO, WARD-2, ELURU, ELURU

In the result, the appeals filed by the assessee in ITA No

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singh

TDS and assessee failed to deduct the tax at source. Therefore, we do not have any hesitation to uphold the order of the Ld. CIT(A) and the assessee’s appeal on this ground is dismissed. 22. Ground Nos.5 & 6 are related to the addition of ` 12,52,25,946/- relating overdue interest on Non performing assets. This issue

THE ITO, WARD-2, ELURU, ELURU vs. M/S THE DISTRICT CO-OPERATIVE CENTRAL BANK LTD., ELURU

In the result, the appeals filed by the assessee in ITA No

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singh

TDS and assessee failed to deduct the tax at source. Therefore, we do not have any hesitation to uphold the order of the Ld. CIT(A) and the assessee’s appeal on this ground is dismissed. 22. Ground Nos.5 & 6 are related to the addition of ` 12,52,25,946/- relating overdue interest on Non performing assets. This issue

THE DISTRICT CO-OPERATIVE CENTRAL BANK LTD.,,ELURU vs. THE ACIT,, ELURU

In the result, the appeals filed by the assessee in ITA No

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singh

TDS and assessee failed to deduct the tax at source. Therefore, we do not have any hesitation to uphold the order of the Ld. CIT(A) and the assessee’s appeal on this ground is dismissed. 22. Ground Nos.5 & 6 are related to the addition of ` 12,52,25,946/- relating overdue interest on Non performing assets. This issue

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), , VISAKHAPATNAM vs. THE MAHARAJA CO-OPERATIVE URBAN BANK LIMITED, VISAKHAPATNAM

In the result, appeals of the revenue are partly allowed for statistical purpose and the cross objections of the assessee are allowed for statistical purpose

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.211 & 212 /Viz/2018 (धििाारण िर्ा/Asst.Years :2012-13 & 2013-14) Asst.Commissioner Of Vs. The Maharaja Co-Operative Income Tax, Urban Bank Ltd. Central Circle-1 49-9-14, Ganta Arcade Visakhapatnam Dwarakanagar Visakhapatnam [Pan : Aaaat4196K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection Nos. 32 & 33/Viz/2018 Arising Out Of I.T.A.Nos.211 & 212 /Viz/2018 (धििाारण िर्ा/Asst. Years : 2012-13 & 2013-14) The Maharaja Co-Operative Urban Vs. Asst.Commissioner Of Bank Ltd. Income Tax, 49-9-14, Ganta Arcade Central Circle-1 Dwarakanagar Visakhapatnam Visakhapatnam [Pan : Aaaat4196K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) राजस्व की ओर से/ Revenue By : Shri Deba Kumar Sonowal, Dr निर्ााररती की ओर से/ Assessee By : Shri G.V.N.Hari, Ar सुिवाई की तारीख / Date Of Hearing : 08.08.2018 घोषणा की तारीख/Date Of Pronouncement : 17.08.2018

viia) of the said sub-section are applicable only in case of a non-member depositor of the cooperative bank, who shall receive interest only on deposits other than time deposits made on or after 1st July, 1995 without TDs under section 194A. (emphasis underlined) Thus the circular clarifies that provisions of section 194A(3)(v) would prevail

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM vs. THE MAHARAJA CO-OPERATIVE URBAN BANK LIMITED, VISAKHAPATNAM

In the result, appeals of the revenue are partly allowed for statistical purpose and the cross objections of the assessee are allowed for statistical purpose

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.211 & 212 /Viz/2018 (धििाारण िर्ा/Asst.Years :2012-13 & 2013-14) Asst.Commissioner Of Vs. The Maharaja Co-Operative Income Tax, Urban Bank Ltd. Central Circle-1 49-9-14, Ganta Arcade Visakhapatnam Dwarakanagar Visakhapatnam [Pan : Aaaat4196K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection Nos. 32 & 33/Viz/2018 Arising Out Of I.T.A.Nos.211 & 212 /Viz/2018 (धििाारण िर्ा/Asst. Years : 2012-13 & 2013-14) The Maharaja Co-Operative Urban Vs. Asst.Commissioner Of Bank Ltd. Income Tax, 49-9-14, Ganta Arcade Central Circle-1 Dwarakanagar Visakhapatnam Visakhapatnam [Pan : Aaaat4196K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) राजस्व की ओर से/ Revenue By : Shri Deba Kumar Sonowal, Dr निर्ााररती की ओर से/ Assessee By : Shri G.V.N.Hari, Ar सुिवाई की तारीख / Date Of Hearing : 08.08.2018 घोषणा की तारीख/Date Of Pronouncement : 17.08.2018

viia) of the said sub-section are applicable only in case of a non-member depositor of the cooperative bank, who shall receive interest only on deposits other than time deposits made on or after 1st July, 1995 without TDs under section 194A. (emphasis underlined) Thus the circular clarifies that provisions of section 194A(3)(v) would prevail

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 1(1), , VISAKHAPATNAM vs. VISAKHAPATNAM CO-OPERATIVE BANK LIMITED, VISAKHAPATNAM

In the result, appeals filed by the assessee and Revenue are dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

viia)(b) for the co- operative bank override the general exemption provided to all co-operative societies for such deduction of tax from interest payment to members u/s.194A(3)(v) of the Act. 8. The Ld.CIT(A)-1, Vsp. ought to have appreciated that the amendment to Sec.194A(3)(v) w.e.f. 01.06.2015 and the explanatory notes to the Finance Bill

THE VISAKHAPATNAM CO-OPERATIVE BANK LIMITED,,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1(1), VISAKHAPATNAM

In the result, appeals filed by the assessee and Revenue are dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

viia)(b) for the co- operative bank override the general exemption provided to all co-operative societies for such deduction of tax from interest payment to members u/s.194A(3)(v) of the Act. 8. The Ld.CIT(A)-1, Vsp. ought to have appreciated that the amendment to Sec.194A(3)(v) w.e.f. 01.06.2015 and the explanatory notes to the Finance Bill

THE VISAKHAPATNAM CO-OPERATIVE BANK LIMITED, ,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1(1), VISAKHAPATNAM

In the result, appeals filed by the assessee and Revenue are dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

viia)(b) for the co- operative bank override the general exemption provided to all co-operative societies for such deduction of tax from interest payment to members u/s.194A(3)(v) of the Act. 8. The Ld.CIT(A)-1, Vsp. ought to have appreciated that the amendment to Sec.194A(3)(v) w.e.f. 01.06.2015 and the explanatory notes to the Finance Bill

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM vs. THE KANAKAMAHALAKSHMI COOPERATIVE BANK LIMITED, VISAKHAPATNAM

In the result, appeal filed by the Revenue and the cross objections filed by the assessee are dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.68/Viz/2021 (ननधधारण वर्ा / Assessment Year : 2014-15) Asst.Commissioner Of Vs. M/S. Kanakamahalakshmi Co- Income Tax Operative Bank Ltd., Circle-1(1) D.No.49-34-22, Main Road, Visakhapatnam Akkayyapalem, Visakhapatnam [Pan : Aacft 6489 J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Co No.59/Viz/2021 (Arising Out Of Ita No.68/Viz/2021) (ननधधारण वर्ा / Assessment Year : 2014-15) M/S. Kanakamahalakshmi Co- Vs. Asst.Commissioner Of Operative Bank Ltd., Income Tax D.No.49-34-22, Main Road, Circle-1(1) Akkayyapalem, Visakhapatnam Visakhapatnam [Pan : Aacft 6489 J] अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Shri Mn Murthy Naik, Cit, Dr सुनवधई की तधरीख / Date Of Hearing : 28.02.2022 घोर्णध की तधरीख/Date Of Pronouncement : 16.03.2022 O R D E R

1) shall not apply to such income credited or paid by a cooperative society. The Assessing Officer has considered the explanation of the assessee and observed that a plain reading of section 194A(3)(i)(b) clearly mandates that the requirement to deduct TDS and therefore the claim of the assessee is covered by exemption under section 194A

THE VISAKHAPATNAM CO-OPERATIVE BANK LTD,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blem/S. The Visakhapatnam Vs. Acit, Circle-1(1), Co-Operative Bank Ltd., Visakhapatnam. Near Town Kotha Road, Main Road, Visakhapatnam. Pan No. Aaaat 0844 L (Appellant) (Respondent) Acit, Circle-1(1), Vs. M/S. The Visakhapatnam Visakhapatnam. Co-Operative Bank Ltd., Near Town Kotha Road, Main Road, Visakhapatnam. Pan No. Aaaat 0844 L (Appellant) (Respondent) C.O.No. 58/Viz/2017 (Ita No. 308/Viz/2017) (Asst. Year : 2013-14) M/S. The Visakhapatnam Vs. Acit, Circle-1(1), Co-Operative Bank Ltd., Visakhapatnam. Near Town Kotha Road, Main Road, Visakhapatnam. Pan No. Aaaat 0844 L (Appellant) (Respondent)

viia) of sub-section(3) of section 194A exempts from the requirement of TDS such income credited or paid in respect of deposits (other than time-deposits made on or after 1st July, 1995) with a cooperative society engaged in carrying on the business of banking. Representations have been received in the Board seeking clarification as to whether a member

THE ASST. CIT,, VISAKHAPATNAM vs. THE VISAKHAPATNAM CO -OPERATIVE BANK LIMITD,, VISAKHAPATNAM

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blem/S. The Visakhapatnam Vs. Acit, Circle-1(1), Co-Operative Bank Ltd., Visakhapatnam. Near Town Kotha Road, Main Road, Visakhapatnam. Pan No. Aaaat 0844 L (Appellant) (Respondent) Acit, Circle-1(1), Vs. M/S. The Visakhapatnam Visakhapatnam. Co-Operative Bank Ltd., Near Town Kotha Road, Main Road, Visakhapatnam. Pan No. Aaaat 0844 L (Appellant) (Respondent) C.O.No. 58/Viz/2017 (Ita No. 308/Viz/2017) (Asst. Year : 2013-14) M/S. The Visakhapatnam Vs. Acit, Circle-1(1), Co-Operative Bank Ltd., Visakhapatnam. Near Town Kotha Road, Main Road, Visakhapatnam. Pan No. Aaaat 0844 L (Appellant) (Respondent)

viia) of sub-section(3) of section 194A exempts from the requirement of TDS such income credited or paid in respect of deposits (other than time-deposits made on or after 1st July, 1995) with a cooperative society engaged in carrying on the business of banking. Representations have been received in the Board seeking clarification as to whether a member

ATR WAREHOUSING PRIVATE LIMITED,VISAKHAPATNAM vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, , VISAKHAPATNAM

In the result, appeal of the assessee is partly allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

TDS made details, bank account statements, copy of WT return filed etc., and the assessee’s Representative furnished the information called for. Thereafter, another notice U/s. 142(1) was issued called for further details like books of account, bills & Vouchers, details of share holders, breakup of certain items in the P & L Account, balance sheet, confirmation letters in respect

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, VISAKHAPATNAM vs. ATR WAREHOUSING PRIVATE LIMITED, VISAKHAPATNAM

In the result, both the appeals filed by the Revenue are dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. Nos. 104, 105 & 106/Viz/2020 ("नधा"रण वष" / Assessment Years: 2013-14, 2014-15 & 2015-16) Dy. Commissioner Of Income Tax, Vs. M/S. Atr Ware Housing (P) Central Circle-2, Ltd., Visakhapatnam. Visakhapatnam. Pan: Aadca 2121 Q

TDS etc., and the assessee furnished the required details. 3. After verification of the books of accounts, the Ld. AO noted that during the year the assessee company availed certain loans from various parties during the year and the assessee was asked to explain the same along with proper documentary evidence. After considering the submissions of the assessee

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, VISAKHAPATNAM vs. ATR WAREHOUSING PRIVATE LIMITED, VISAKHAPATNAM

In the result, both the appeals filed by the Revenue are dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. Nos. 104, 105 & 106/Viz/2020 ("नधा"रण वष" / Assessment Years: 2013-14, 2014-15 & 2015-16) Dy. Commissioner Of Income Tax, Vs. M/S. Atr Ware Housing (P) Central Circle-2, Ltd., Visakhapatnam. Visakhapatnam. Pan: Aadca 2121 Q

TDS etc., and the assessee furnished the required details. 3. After verification of the books of accounts, the Ld. AO noted that during the year the assessee company availed certain loans from various parties during the year and the assessee was asked to explain the same along with proper documentary evidence. After considering the submissions of the assessee

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, VISAKHAPATNAM vs. ATR WAREHOUSING PRIVATE LIMITED, VISAKHAPATNAM

In the result, both the appeals filed by the Revenue are dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. Nos. 104, 105 & 106/Viz/2020 ("नधा"रण वष" / Assessment Years: 2013-14, 2014-15 & 2015-16) Dy. Commissioner Of Income Tax, Vs. M/S. Atr Ware Housing (P) Central Circle-2, Ltd., Visakhapatnam. Visakhapatnam. Pan: Aadca 2121 Q

TDS etc., and the assessee furnished the required details. 3. After verification of the books of accounts, the Ld. AO noted that during the year the assessee company availed certain loans from various parties during the year and the assessee was asked to explain the same along with proper documentary evidence. After considering the submissions of the assessee