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Disallowance Remanded Because U/s 13A Exemption Not Automatic for TDS
Case Law Details
- Case Name
- DCIT Vs Vijaya Bank (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2010-11
- Courts
- All ITAT, ITAT Bangalore
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DCIT Vs Vijaya Bank (ITAT Bangalore)
13A Exemption Not Automatic Shield: Test of Section 201 Proviso Key- Vijaya Bank’s 40(a)(ia) Issue Sent Back
Reassessment u/s 143(3) r.w.s. 147 resulted in disallowance of Rs.6,98,06,208 u/s 40(a)(ia) on the ground that Assessee failed to deduct TDS u/s 194A on interest paid to a political party (All India Congress Party).
CIT(A) deleted the disallowance by relying on Punjab & Haryana High Court ruling in Canara Bank, holding that when payee’s income is exempt u/s 13A, payer cannot be treated as assessee in default u/s 201 & con...
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