https://www.taxtmi.com/caselaws?id=430789 The Court dismissed the challenge to Circulars issued by District Central Cooperative Banks regarding tax deductions on cash withdrawals by Primary Agricultural Cooperative Credit Societies. The Court held that the Circulars were merely informing the petitioners of statutory provisions and that no fault could be attributed to the Banks. The petitioners' arguments regarding tax deductions, Section 80P, and a Supreme Court judgment were deemed premature and should be addressed during assessment. The Court ruled in favor of the respondents, emphasizing the mandatory nature of the tax deduction provision and the objective to promote a cashless economy. en-us Fri, 04 Nov 2022 00:00:00 +0530 Mon, 27 Feb 2023 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430789 The Court dismissed the challenge to Circulars issued by District Central Cooperative Banks regarding tax deductions on cash withdrawals by Primary Agricultural Cooperative Credit Societies. The Court held that the Circulars were merely informing the petitioners of statutory provisions and that no fault could be attributed to the Banks. The petitioners' arguments regarding tax deductions, Section 80P, and a Supreme Court judgment were deemed premature and should be addressed during assessment. The Court ruled in favor of the respondents, emphasizing the mandatory nature of the tax deduction provision and the objective to promote a cashless economy. Case-Laws Income Tax Fri, 04 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430789