NOIDA and Greater NOIDA are covered by the notification No.S.O. 3489 dt 22ndoct, 1970 , hence interest received by them is exempt u/s 194A (3)(iii)(f) of the Act. (CA No. 5374/5378 of 2017 /6020 to 6070 of 2018 dt. 2-07 -2018( AY. 2005 -06, 2006-07)
CIT v. Canara Bank ( 2018) 406 ITR 161/168 DTR 33/ 303 CTR 433 / 257 Taxman 12 (SC) Editorial: CIT v. Canara Bank ( 2016) 386 ITR 504/ 141 DTR 73 / 289 CTR 75 ( All)(HC) is affirmed .
S. 194A : Deduction at source – Interest other than interest on securities- NOIDA and Greater NOIDA are covered by the notification No .S.O. 3489 dt 22nd oct, 1970 -Interest received by them is exempt-Bank is not liable to deduct tax at source . [ S.194A(3) (iii) (f) ]