No disallowance on account of non-deduction of TDS if deductor failed to submit Form 15G/15H before CIT

INCOME-TAX : Where depositors give Form No. 15G/15H to assessee-bank, law empowers assessee to make payment of interest without deduction of tax at source even though assessee has not furnished those Forms to Commissioner because requirement of filing of Form 15G and 15H with prescribed authority viz., Commissioner, is only procedural and that cannot result in a disallowance under section 40a(ia)

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