TDS not deductible on interest paid to senior citizen based on Form 15H, hence Bank not assessee in default

South Indian Bank Limited Vs ITO (Kerala High Court)

Kerala High Court held that Bank is not required to deduct TDS on interest paid to senior citizen who has provided Form 15H. Accordingly, Bank cannot be considered as assessee in default for non-deduction of such TDS.

Facts- The appellant-assessee had a statutory duty to deduct tax at source as against the interest paid by it on fixed deposits with reference to the provisions of Section 194A of the Income Tax Act, 1961. Notably, on the basis of Form 15H declarations furnished by the depositors, the appell

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