Madras HC Allows Appeal before CIT(TDS) with 10% Pre-Deposit instead of 20%

Salem Urban Co-operative Bank limited Vs ITO (Madras high court) Introduction: The case of Salem Urban Co-operative Bank Limited versus the Income Tax Officer (ITO) before the Madras High Court revolves around the appellant’s plea for waiver of a 10% pre-deposit demand amid financial distress. This article provides a comprehensive analysis of the judgment and its implications. Detailed Analysis: The appellant, Salem Urban Co-operative Bank Limited, contested the orders of assessment for the fiscal years 2018-2019 and 2019-2020. They sought to appeal these orders but faced challenges in m...