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TMI Blog2017 (9) TMI 1695X X X X Extracts X X X X X X X X Extracts X X X X ..... 2. We deal with ITA No. 6706/DEL/2015 (AY 2012-13) wherein the following identical and common grounds have been raised. "The Ld. CIT(A) erred in law and facts by considering the appellant has cooperative society and not liable to deduct TDS in accordance to Section 194(3)(v) of the I.T. Act, 1961. 1. The Ld. CIT(A) erred in law and facts by ignoring the fact that though appellant is Co-op Society but engaged in the business of banking and therefore not exempt u/s. 194(3)(v) and thus the Ld. CIT(A), Gurgaon has erred in deleting the demand raised on account of short deduction of TDS of Rs. 88,83,288/- and interest thereon of Rs. 27,09,403/-. 2. The Ld. CIT(A), Gurgaon has erred in deleting the demand raised on account of short deducti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on such expenses. In response to this notice Deductor did not file any reply/submission. Again Fresh Notice vide letter F.No. ITO/(TDS)/GGN/2013-14/774 dated 21.1.2014 was issued and asked to file the required information and fixed the case for 27.01.2014. In response to this notice, the A.R. of the assessee appeared and filed power of attorney and certain information. After examination of the same, vide AO's letter F.No. ITO/(TDS)/GGN/2013- 14/814 dated 31.01.2014, a further notice was issued to furnish the details of various expenses debited / paid during the year Total amount debited/paid during the year. In response to the said notice, assessee bank filed information vide its letter dated 5.2.2014 and after perusing the same, it was f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h the rely. Accordingly, AO held that as the assessee is a cooperative society engaged in the business of banking, it is covered under these specific clauses as has been held by the ITAT, Pune Bench in the case of Bhagani Nivedita Sahakari Basnk Ltd. vs. ACIT 87 ITD 579 wherein the ITAT held that the term "Cooperative Society" mentioned in section 194A(3)(v) is to be interpreted as cooperative society other than cooperative bank. AO further held that since the person responsible has failed to furnish the documentary evidence in respect of the same to the concerned CIT, it is concluded that the Person Responsible has failed to comply with the provisions of the I.T. Act, 1961, hence, credit for the amount of interest claimed to be covered by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... its members and that neither section 2(19) nor section 194A(3)(v) claims any discrimination between the cooperative societies carrying on banking business and other cooperative societies. Therefore, the Ld. CIT(A) has rightly followed the aforesaid decision and deleted the demand in dispute, which does not need any interference on our part, hence, we uphold the same and reject the ground no. 1 raised by the Revenue. 7.1 Apropos ground no. 2 relating to deletion of demand raised on account of short deduction of TDS of Rs. 16,686/- and interest thereon of Rs. 5,006/- with respet to cases where Form No. 15G/15H were not submitted to the CIT(TDS), Chandigarh on or before 7th day of the week, next following the month in which declaration is f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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