NDLI: Commissioner of Income Tax(tds) Kanpur and Anr. Vs. Canara Bank

Content Provider	Supreme Court of India
e-ISSN	30484839
Language	English
Access Restriction	NDLI
Subject Keyword	Income Tax Act 1961 – s.194A(3)(iii)(f)
Content Type	Text
Resource Type	Law Judgement
Jurisdiction	India
Act(s) Referred	Income Tax Act, 1961 (43 of 1961)
Case(s) Referred	Referred Case 0 Referred Case 1 Referred Case 2 Referred Case 3 Referred Case 4
Case Type	Appeal
Court	Supreme Court of India
Disposal Nature	Appeal Dismissed
Headnote	Income Tax Act, 1961 – s.194A(3)(iii)(f) – Notification issuedunder – Payment of interest to State Industrial DevelopmentAuthority – Exemption from deduction of tax at source – Benefit of,when available – New Okhla Industrial Development Authority(NOIDA) constituted under the 1976 Act – Respondent-Bank paidinterest to NOIDA in form of FDs/Deposits, however, did not deducttax at source – Assessing Officer holding that the respondent wasassessee in default, issued demand notice – Bank filed appeal beforeCommissioner of Income Tax (Appeals) placing reliance uponnotification dtd. 22.10.1970 issued u/s.194A(3)(iii)(f) – Plea ofappellant-Revenue that NOIDA is not entitled for the benefit ofnotification dtd. 22.10.1970 as under the said notification only aCorporation established by Central, State or Provincial Act is entitledfor the benefit, however, NOIDA is not established by the 1976 Actrather i t is established under the 1976 Act – Held: Section194A(3)(iii) uses both the expressions “by or under” – In DalcoEngineering case, Supreme Court held that the phrase establishedby or under the Act is a standard term used in several enactments todenote a statutory corporation established or brought into existenceby or under the statute – Ratio laid down in Dalco Engineering casefully covers the present case – Further, the composition of NOIDAis statutorily provided by s.3 of 1976 Act itself, hence, it has beenconstituted by the Act itself and is covered by notification dtd.22.10.1970 – High Court did not commit any error in dismissingthe appeal filed by the appellant – Uttar Pradesh Industrial AreaDevelopment Act, 1976– s.3– State Financial Corporation Act,1951– Interpretation of Statutes.
Judge	Hon'ble Mr. Justice Ashok Bhushan
Neutral Citation	2018 INSC 563
Petitioner	Commissioner Of Income Tax(tds) Kanpur And Anr.
Respondent	Canara Bank
SCR	[2018] 7 S.C.R. 866
Judgement Date	2018-07-02
Case Number	6020

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