Income paid to member or to a cooperative society by a Co-operative Society is not liable to TDS

Advertisement Sections Involved  194A (1) r.w. 194A (3) clause (b) & (v),  2 (19)- Definition of Co-operative Society Contentions of Assessee: Assessee being a co-operative society, registered under Cooperative Societies Act, contended that, there was no obligation upon the it to deduct tax at source on the payments made to members (Interest on deposits made by members) and accordingly the demand u/s 201(1)/201(1A) could not have been raised. (Even CIT-(A) also confirmed the AO’s statement and thereby assessee forced to appeal before ITAT.) Contentions/View of Revenue The AO on spo...