https://www.taxtmi.com/caselaws?id=258492 The court ruled in favor of the respondent, upholding the circular directing tax deduction on deposits under section 194A of the Income Tax Act. It clarified that urban co-operative banks must deduct TDS on interest exceeding Rs. 10,000 on time deposits, aligning with the provisions of section 194A. The court emphasized the need for a harmonious interpretation of the statutory provisions to avoid redundancy and concluded that the circular lacked clarity but affirmed the requirement for TDS as per the Income Tax Act. The writ petition was disposed of without costs. en-us Mon, 21 Apr 2014 00:00:00 +0530 Sat, 11 Apr 2015 00:58:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258492 The court ruled in favor of the respondent, upholding the circular directing tax deduction on deposits under section 194A of the Income Tax Act. It clarified that urban co-operative banks must deduct TDS on interest exceeding Rs. 10,000 on time deposits, aligning with the provisions of section 194A. The court emphasized the need for a harmonious interpretation of the statutory provisions to avoid redundancy and concluded that the circular lacked clarity but affirmed the requirement for TDS as per the Income Tax Act. The writ petition was disposed of without costs. Case-Laws Income Tax Mon, 21 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258492