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TMI Blog2019 (10) TMI 1520X X X X Extracts X X X X X X X X Extracts X X X X ..... ottayam, Thiruvalla, The Principal Chief Commissioner of Income Tax, Kochi, The Central Board of Direct Taxes, Represented By Its Chairman, The Kottayam District Co-Operative Bank Ltd., State of Kerla - 2019 (10) TMI 1520 - KERALA HIGH COURT - TMI - Exemption provided u/s 194A(3)(v) - deduction of tax at source would not apply in cases where the income is paid by a Co-operative Society - HELD T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the provisions of Section 194A(3)(v), the provisions of sub section (1) thereof, which contemplate a deduction of tax at source would not apply in cases where the income is paid by a Co-operative Society to any other Co- operative Society. It is the case of the petitioners that the payment of interest from the Kottayam District Co-operative Bank to the petitioner has to be viewed as a payment of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or the Petitioner : Advs. Sri. T.A. Shaji (Sr.), Shri. Nikhil Sunny Mooken, Sri. S. Abhilash Vishnu. For the Respondents : GP MM Jasmine, SC Christopher Abraham. JUDGMENT The petitioners are Primary Agricultural Credit Society registered under the provision of the Kerala Co-operative Societies Act. In the writ petition, the petitioners are aggrieved by Exts.P1 and P3 communications r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... perative Society. It is the case of the petitioners that the payment of interest from the Kottayam District Co-operative Bank to the petitioner has to be viewed as a payment of income by a Co-operative Society to another Co-operative Society and hence the provisions of Section 194A (3)(v) would apply to exclude the receipts of interest income by the petitioners from the requirement of tax deductio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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