https://www.taxtmi.com/caselaws?id=171914 The Tribunal dismissed all Revenue's appeals, confirming that Jammu Development Authority (JDA) is exempt from tax deduction on interest accrued on Fixed Deposit Receipts. The CIT(A) and Tribunal held that JDA qualifies as a "body corporate" under Notification No.3489, exempting it from TDS. The Tribunal referenced a similar case, affirming that JDA's income is not subject to TDS. The demand under Income Tax Act sections 201 and 201(1A) was deleted, and the assessee was not considered in default for the assessment years 2006-07 to 2010-11. en-us Tue, 24 Apr 2012 00:00:00 +0530 Thu, 22 Jun 2017 14:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171914 The Tribunal dismissed all Revenue's appeals, confirming that Jammu Development Authority (JDA) is exempt from tax deduction on interest accrued on Fixed Deposit Receipts. The CIT(A) and Tribunal held that JDA qualifies as a "body corporate" under Notification No.3489, exempting it from TDS. The Tribunal referenced a similar case, affirming that JDA's income is not subject to TDS. The demand under Income Tax Act sections 201 and 201(1A) was deleted, and the assessee was not considered in default for the assessment years 2006-07 to 2010-11. Case-Laws Income Tax Tue, 24 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171914