Case Law Details
Case Name : Commissioner of Income Tax (TDS) Vs State Bank of Patiala, IT (Himachal Pradesh High Courts)
Appeal Number : ITA No.17 of 2014
Date of Judgement/Order : 31/12/2014
Related Assessment Year :
Courts :
All High Courts Himachal Pradesh HC
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Brief of the case:
The Hon’ble Himachal Pradesh High Court in the case of CIT vs. State Bank of Patiala held that the exemption notification issued by Central Govt. allowing non-deduction of TDS in case of certain deductees has an automatic effect as soon as the same is issued and there is no such requirement in the act to obliging deductor to specifically apply for availing the benefit under that notification.
Facts of the case:
- The assessee banking company paid interest to M/s Biotech Biobusiness and HP SITEG, wholly financed and controlled establishment of the Government on deposits made with the assessee (bank).Assessee did not deduct tax u/s 194A on interest payment made to such government establishment.
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