https://www.taxtmi.com/caselaws?id=461127 The Madras HC dismissed writ petitions challenging circulars regarding TDS u/s 194N on cash withdrawals by Primary Agricultural Cooperative Credit Societies. The court held that banks have statutory responsibility to deduct tax and cannot determine at the deduction stage whether withdrawn amounts represent income in societies' hands. Such examination must be conducted by assessing officers at the societies' instance, not banks'. The court noted an identical issue was pending in appeal with interim stay granted. The challenge failed on both maintainability and merits grounds, as the circulars merely informed societies of statutory TDS provisions requiring compliance. en-us Fri, 18 Nov 2022 00:00:00 +0530 Sat, 15 Mar 2025 14:15:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461127 The Madras HC dismissed writ petitions challenging circulars regarding TDS u/s 194N on cash withdrawals by Primary Agricultural Cooperative Credit Societies. The court held that banks have statutory responsibility to deduct tax and cannot determine at the deduction stage whether withdrawn amounts represent income in societies' hands. Such examination must be conducted by assessing officers at the societies' instance, not banks'. The court noted an identical issue was pending in appeal with interim stay granted. The challenge failed on both maintainability and merits grounds, as the circulars merely informed societies of statutory TDS provisions requiring compliance. Case-Laws Income Tax Fri, 18 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461127