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2016 (4) TMI 1331 - HC - Income TaxTDS u/s 194A on Interest - interest credited/paid on the fixed deposit receipts purchased by the New Okhla Industrial Development Authority (NOIDA) - Whether NOIDA is a corporation established by U.P. Industrial Area Development Act, 1976 and not a body established under the aforesaid Act? - Held that - The question of law framed by us has been answered in negative by judgment of Commissioner of Income Tax (TDS) & Anr. Vs. Canara Bank 2016 (5) TMI 570 - ALLAHABAD HIGH COURT . NOIDA is a Corporation established by the Uttar Pradesh Industrial Area Development Act, 1976.
The High Court of Allahabad dismissed the appeal, stating that NOIDA is a Corporation established by the Uttar Pradesh Industrial Area Development Act, 1976. The question of law was answered in the negative based on a previous judgment in Income Tax Appeal No.64 of 2016. The citation for the judgment is 2016 (4) TMI 1331 - ALLAHABAD HIGH COURT.
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