https://www.taxtmi.com/caselaws?id=185788 The Tribunal dismissed the Revenue's appeal, holding that dividend payments to chit fund subscribers do not constitute interest. Therefore, the assessee was not required to deduct TDS under section 194A or liable for interest under sections 201(1) and 201(1A) of the Income-tax Act for the assessment year 2004-05. The Tribunal relied on precedents, including the cases of Marga Soochi Chit Pvt. Ltd. and Sahib Chits (Delhi) (P) Ltd., to support its decision. en-us Mon, 26 Dec 2011 00:00:00 +0530 Sat, 27 Aug 2016 12:45:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185788 The Tribunal dismissed the Revenue's appeal, holding that dividend payments to chit fund subscribers do not constitute interest. Therefore, the assessee was not required to deduct TDS under section 194A or liable for interest under sections 201(1) and 201(1A) of the Income-tax Act for the assessment year 2004-05. The Tribunal relied on precedents, including the cases of Marga Soochi Chit Pvt. Ltd. and Sahib Chits (Delhi) (P) Ltd., to support its decision. Case-Laws Income Tax Mon, 26 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185788