https://www.taxtmi.com/caselaws?id=282906 The High Court upheld decisions in favor of the Assessee on both issues. The court found that cooperative banks were not obligated to deduct tax at source under section 194A(3)(v) of the Income Tax Act, 1961, as clarified by Circular No.19/2015. Additionally, the court ruled in favor of the Assessee regarding the application of section 43D on accrued interest on loans classified as Nonperforming Assets, following precedents and emphasizing the importance of relevant provisions of the Income Tax Act, 1961. en-us Wed, 16 Dec 2015 00:00:00 +0530 Fri, 30 Aug 2019 08:53:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282906 The High Court upheld decisions in favor of the Assessee on both issues. The court found that cooperative banks were not obligated to deduct tax at source under section 194A(3)(v) of the Income Tax Act, 1961, as clarified by Circular No.19/2015. Additionally, the court ruled in favor of the Assessee regarding the application of section 43D on accrued interest on loans classified as Nonperforming Assets, following precedents and emphasizing the importance of relevant provisions of the Income Tax Act, 1961. Case-Laws Income Tax Wed, 16 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282906