2017 (6) TMI 1218

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..... 2015-TPL, has held that the Co-operative Banks are not required to deduct tax at source on time deposits of its members paid or credited on or before 1.7.2015. - Decided in favour of assessee. - INCOME TAX APPEAL No.100060/2016 - - - Dated:- 7-6-2017 - THE HON BLE DR. JUSTICE VINEET KOTHARI AND THE HON BLE DR. JUSTICE H. B. PRABHAKARA SASTRY FOR THE APPELLANT : SRI. Y.V.RAVIRAJ, ADV.,) .....

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..... or before 1.7.2015. The relevant portion of the circular read s as under: 42.5 In view of this, the provisions of the section 194A(3)(v) of the Income-tax Act have been amended so as to expressly provide that the exemption provided from deduction of tax from payment of interest to members by a co-operative society under section 194A(3)(v) of the Income-tax Act shall not apply to the payment o .....

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