Section 194A TDS not deductible on interest paid to Agra Development Authority: SC

Union Bank of India Vs Additional Commissioner of Income Tax (TDS) (Supreme Court of India) Whether the appellant was required by the provisions of Section 194A of the Income Tax Act 1961 to deduct tax at source on payments of interest made to the Agra Development Authority. The issue which is raised in the present appeals is covered by the judgment of a two-Judge Bench of this Court in Commissioner of Income Tax (TDS) Kanpur and Another vs Canara Bank1. In that case, the issue pertained to the applicability of the notification dated 22 October 1970 in relation to payments made by Canara Bank ...