TDS not deductible on interest on savings bank account and compulsory deposit account

Ram Garhia Co-operative Bank Ltd Vs ACIT (ITAT Delhi)

ITAT Delhi held that there is no liability to deduct TDS on interest on savings bank account and interest of compulsory deposit account as per the provisions contained u/s 194A of the Act. Accordingly, disallowance u/s 40(a)(ia) unsustainable.

Facts-

The assessee is a co-operative society carrying on the business of providing credit and deposits facilities. AO passed the assessment or

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