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TDS not deductible on Interest Paid to NOIDA Authority: SC
Case Law Details
- Case Name
- Commissioner of Income Tax (TDS) kanpur and Anr. Vs Canara Bank (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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CIT (TDS) Vs Canara Bank (Supreme High Court)
In this Case Hon’ble Supreme Court while examining the deductibility of TDS under Section 194A on Payment of Interest to New Okhla Industrial Development Authority (NOIDA) explained the Meaning of the term “corporation”.
Hon’ble Supreme Court further explained Difference between “established by an Act” and “established under an Act”.
Hon’ble Supreme Court held that Though NOIDA is not a “local authority”, it is a “corporation established by the Act” and so payments to...
