https://www.taxtmi.com/caselaws?id=460910 ITAT Chandigarh ruled that cooperative society engaged in banking was not required to deduct TDS under section 194A on interest payments made to other cooperative societies. The tribunal held that exemption under section 194A(3)(v) for payments between cooperative societies continued to apply even after Finance Bill 2015 amendments, following precedent in Punjab State Coop Bank Ltd. case. Assessee was not deemed in default under section 201(1) and no interest liability under section 201(1A) arose. en-us Tue, 29 Nov 2016 00:00:00 +0530 Sat, 01 Mar 2025 14:25:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460910 ITAT Chandigarh ruled that cooperative society engaged in banking was not required to deduct TDS under section 194A on interest payments made to other cooperative societies. The tribunal held that exemption under section 194A(3)(v) for payments between cooperative societies continued to apply even after Finance Bill 2015 amendments, following precedent in Punjab State Coop Bank Ltd. case. Assessee was not deemed in default under section 201(1) and no interest liability under section 201(1A) arose. Case-Laws Income Tax Tue, 29 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460910