Debts Recovery Tribunals and Appellate Tribunals
COPPER SEMIS PRIVATE LIMITED vs SARASWAT COOPERATIVE BANK LIMITED on 1 December 2021
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01.12.2021 Roznama-MDRT-III Next date M.A. No. 36 of 2017 Copper Semis Pvt. Ltd. ....Applicant V/s Saraswat Co-op Bank Ltd. & Ors. ....Respondents Mr. Sunil Kadam, Advocate appeared for Applicant. Mr. Vivek Phadke, Advocate appeared for Respondent Bank. All Advocates appeared through Video Conferencing. The matter was posted for today for the Applicant to confirm receipt of return of withheld amount with the Respondent Bank. Advocate for the Applicant confirmed that withheld amount returned, however, Respondent Bank has deducted TDS while releasing the withheld amount and only balance amount was paid. Tribunal is directing the Respondent Bank to issue appropriate TDS Certificate to the Applicant as per the requirement of Income Tax Act within timeline provided by Income Tax Act. With the above observation and direction, with Respondent Bank paying the withheld amount, nothing survives in the M.A. Accordingly M.A. No. 36 of 2017 and underlying S.A. stands disposed off. Closed P.O. .. 44011Ww DRT-III