2013 (7) TMI 967

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....bsp;year 2008-09 created u/s 201(1) / 201(1 A) of the Income Tax Act, 1961 treating the assessee to be in default for not deducting tax at source u/s 194A(3) on interest paid/ credited to Societies viz Biotech Biobusiness and HP SITEG. 2. That the Ld. CIT(A) despite her specific finding in Para 4.2 that the Appellant Bank cannot be absolved of its liability to deduct TDS u/s 194A from the interest paid / accrued in respect of the deposits of the given Societies, has erred in deleting demand created u/s 201(1) / 201(1 A) of the Income Tax Act, 1961 by the ITO(TDS), Shimla merely on the ground which is not at all relevant for consideration by the deductor / PR. The Deductor / PR is not at all required to examine as to whether the int....

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....he time of hearing of appeal. 3. Before us, Ld. DR strongly supported the order of Assessing Officer. 4. On the other hand Ld. Counsel of the assessee submitted that identical issues in the case of assessee came for consideration before the Tribunal in Revenue's appeals in ITA Nos. 1306 & 1307/Chd/2012 relating to assessment year 2009-10 & 2010-11. The issues were discussed in various paragraphs and ultimately the same were decided in favour of the assessee. 5. We have considered the rival submissions and find that in earlier order also, similar facts were involved. The Assessing Officer has held the assessee in default u/s 201 because the tax was not deducted on the interest on FDRs from the societies. However, the Ld. CIT(A) dele....