2019 (9) TMI 1118

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.... For the Respondent : Mrs.Hema Muralikrishnan Senior Standing Counsel ORDER The petitioner is a Union affiliated to the National Confedration of Bank Employees (in short 'NCBE'), founded in 1949, and has been in existence, as on date, for nearly 70 years. 2. The Indian Overseas Bank (in short 'bank') had introduced a pension scheme under the Indian Overseas Bank Employees ....

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.... 3. Pursuant thereto, an agreement was signed between the IBA and UFBU on 27.11.2009 and a second option was provided for those bank employees who had not opted for pension in 1995. This required a contribution from the employees out of their salary arrears amounting, in toto, to a sum of Rs. 1800 crores out of the aforesaid Rs. 6000 crores of shortfall. The arrears had been computed post a rev....

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....ate, and is extracted below:- Certificate for deduction at lower rate. 197. (1) Subject to rules made under sub-section (2A), where in the case of any income of any person [or sum payable to any person], income-tax is required to be deducted at the time of credit or, as the case may be, at the time of payment at the rates in force under the provisions of sections 192, 193, [194,]....

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....notification in the Official Gazette, make rules specifying the cases in which, and the circumstances under which, an application may be made for the grant of a certificate under sub-section (1) and the conditions subject to which such certificate may be granted and providing for all other matters connected therewith. 7. In the light of the above statutory provision, it is appropriate that the ....