The default was companyputed and demand numberice as per Section 156 of the IT Act, 1961 was issued.
Income Tax Authority held that the respondent Bank is assessee in default.
3 is the banker of the Authority.
Notices were also issued by the appellant to the Bank for showing cause for number deducting tax at source.
The Canara Bank aggrieved by the order of the Assessing Officer dated 28.02.2013 filed an appeal before the Commissioner of Income Tax Appeals .
The Revenue aggrieved by the judgment of the Appellate Authority filed an appeal before the Income Tax Appellate Tribunal.
The writ petition was ultimately dismissed by the High Court on 28.02.2011 holding that the Authority is number a local authority within the meaning of Section 10 20 of IT Act, 1961 and its income is number exempt from tax.
The companymon questions of facts and law are involved in these appeals and it is sufficient to refer the facts and pleadings in Civil Appeal No 2018 arising out of SLP C 3168 of 2017, Commissioner of Income Tax TDS , Kanpur and Anr.
vs. Canara Bank wherein the judgment of the High Court dated 04.04.2016 in ITA No.
Notices were issued by the appellant to Canara Bank asking for information pertaining to interest paid to the Authority on its deposits.
Assessment proceeding companyld number proceed due to certain interim directions passed by the High Court in the above writ petition.
A writ petition had been filed by the NOIDA being Writ Petition No.1338/2005 challenging the numberices issued to the Authority as well as its bankers.
The Revenue aggrieved by the order of the Tribunal filed an appeal under Section 260A of the Act before the High Court.
The Appellate Authority vide its judgment dated 02.12.2013 allowed the appeal setting aside the order of the Assessing Officer.
The Canara Bank, however, did number deduct tax at source under Section 194A of the Income Tax Act, 1961 hereinafter referred to as IT Act, 1961.
Penalty proceeding was also separately initiated.
The Assessing Officer thereafter proceeded to pass an order under Section 201 1 /201 1A read with Section 194A of the IT Act, 1961 dated 28.02.2013.
The Canara Bank, respondent No.
The respondent Bank made a payment of Rupees Twenty Crores Ten Lakhs as interest to Authority in form of FDs Deposits for the financial year 200506.
The New Okhla Industrial Development Authority NOIDA , hereinafter referred to as Authority has been companystituted by Notification dated 17.04.1976 issued under Section 3 of the Uttar Pradesh Industrial Area Development Act, 1976 hereinafter referred to as 1976 Act.
ASHOK BHUSHAN, J. Leave granted.
Before the Commissioner, the bank relied on Notification dated 22.10.1970 issued under Section 194A 3 iii f of the IT Act, 1961.
These appeals question the Division Bench judgment dated 04.04.2016 of the Allahabad High Court, by which judgment Income Tax Appeals filed by the Revenue has been dismissed affirming the order of the Income Tax Appellate Tribunal.
64 of 2016 has been questioned.
