TDS on interest payment u/s 201(1A) of the Income Tax Act, 1961

Last updated: 07 August 2021
Quick Summary
The Income Tax Appellate Tribunal heard an appeal from Canara Bank concerning the deduction of Tax Deducted at Source (TDS) on interest payments. The bank had been assessed as an 'assessee in default' for not deducting TDS on interest provided quarterly, even when Forms 15G and 15H were submitted by depositors. The Tribunal found errors in the lower authorities' handling of the case and, in the interest of justice, set aside the appeal to the Assessing Officer (AO). The AO is directed to examine the submitted Forms 15G and 15H to determine the correct tax demand, if any.

Court :
INCOME TAX APPELLATE TRIBUNAL

Brief :
This appeal is filed by the Assessee against the order of the ld CIT(A)-I, Gurgaon dated 08.12.2015 for Assessment Year 2012-13.

Citation :
ITA No. 5870/Del/2016

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