Assessee was a regional rural bank constituted under Regional Rural Banks Act and was assessable as a co-operative society. During course of survey proceedings, Assessing Officer found  that assessee had not submitted Form 15G and Form 15H of investors of FD/term deposits along with complete relevant details of depositors such as name of depositor, amount of fixed deposit, date of said deposit made, date of maturity, interest rate etc.-Assessing Officer held assessee as assessee-in-default for payment of interest without deduction of tax at source under section 201 and raised demand under section 201(1) and interest under section 201(1A) of the Act. On appeal the Tribunal held that considering facts that assessee had collected above 75 per cent of Forms and percentage of Forms not submitted compared to total interest disbursal by assessee was just 2.26 per cent. Order levying the interest was set aside.  (AY.  2011-12 to 2014-15)