TaxTMI 
TaxTMI 
2025 (8) TMI 1864
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....ve societies :- Grounds in ITA No. 1306/Mum/2025 1) The Order of the Appellate Additional/Joint Commissioner is contrary to law, facts and circumstances of the case. 2) The Appellate Additional/Joint Commissioner erred in dismissing our Appeal without considering the fact that, the Appellant Bank had submitted the reply along with annexure (Supporting Documents) on 18/10/2024 and again on 17/12/2024. 3) The Appellate Additional/Joint Commissioner fails to consider the issue on merit that, it is clearly mentioned under Para Number 42.7 of the Explanatory Notes of the Provision of the Finance Act, 2015 that, the Co Operative Bank shall not be required to deduct Tax (TDS) from the payment of interest to the ....
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.... ITO(TDS) has erred in facts and in law in charging the Late Fees of Rs. 1,88,853/- u/s 234E of the Act and failed to appreciate that, the Appellant has already filed the TDS statement as required u/s 200(3) of the Act. 11) The reason assigned by the Learned ITO(TDS) for making the above addition are wrong, against the facts, contrary to the provision of law, evidence on record, without observing natural justice and without following decision of various Court Grounds in ITA No. 1307/Mum/2025 1) The Order of the Appellate Additional/Joint Commissioner is contrary to law, facts and circumstances of the case. 2) The Appellate Additional/Joint Commissioner erred in dismissing our Appeal without considering th....
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....earned ITO(TDS) erred in levying interest under section 201(1A) of the Act. In any case quantification of interest u/s 201(1A) of Rs. 1,75,634/- is erroneous and excessive without proper application of laws and contrary to various judicial pronouncement is to be deleted. 9) Non deduction of tax will not attract penal interest u/s 201 of the Act. If primary liability is discharged by the recipient and income tax return are filed. 10) The Learned ITO(TDS) has erred in facts and in law in charging the Late Fees of Rs. 1,88,853/- u/s 234E of the Act and failed to appreciate that, the Appellant has already filed the IDS statement as required u/s 200(3) of the Act. 11) The reason assigned by the Learned ITO(TDS) for mak....
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....d by Cooperative Bank to cooperative societies in view of the following :- a) Hon'ble Bombay High Court in the case of Saraswat Cooperative Bank has held that TDS provisions are not applicable where interest was paid to cooperative societies. b) The Revenue, in appellant's own case, has accepted the contention of appellant for A.Ys. 2017-18 and 2018-19 that, TDS need not be deducted. c) The Coordinate Bench of ITAT in the case of Punjab State Cooperative Bank Ltd. Vs. ITO (ITA No. 97/Chd/2016 has held that TDS need not be deducted on the interest payment to cooperative societies. d) There is sufficient force in the submission of Ld.AR, where he relied on the amendment which was brought into Statute fr....