Co-op. society exempted from withholding of taxes under sec. 194A on interest paid to its members: I

IT : Where assessee, a co-operative society, carrying on banking business, paid interest income to members on both time deposits and on deposits other than time deposits, it was not required to deduct tax at source under section 194A by virtue of exemption granted vide clause (v) of sub-section (3) of said section