Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
HC ruled that Section 194N of the Income Tax Act, 1961 applies comprehensively to cooperative banking societies, rejecting the petitioner's claim for exemption under Section 80P(2). The court determined that TDS deduction on loans and subsidies is mandatory, irrespective of the society's specialized agrarian service mandate. The court distinguished prior precedents based on factual variations and found the respondents' procedural actions legally sound. Consequently, the writ petition was dismissed, upholding the 2% TDS deduction and affirming the statutory interpretation that no blanket exemption exists for cooperative banking entities.
HC ruled that Section 194N of the Income Tax Act, 1961 applies comprehensively to cooperative banking societies, rejecting the petitioner's claim for exemption under Section 80P(2). The court determined that TDS deduction on loans and subsidies is mandatory, irrespective of the society's specialized agrarian service mandate. The court distinguished prior precedents based on factual variations and found the respondents' procedural actions legally sound. Consequently, the writ petition was dismissed, upholding the 2% TDS deduction and affirming the statutory interpretation that no blanket exemption exists for cooperative banking entities.
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