Learned counsel appearing for the Petitioner Bank, namely, Corporation Bank, states that as per his instructions, which, in turn are based on the advice received by the Bank from its Chartered Accountants, the Bank is willing to refund the amount of the Tax Deducted at Source (TDS) amounting to ₹1,67,101/-, on the interest paid/payable on the Fixed Deposit Receipt (FDR) obtained by the Complainant, provided this Commission grants liberty to the Bank to revise its TDS Return already filed with the Income Tax Department, as may be permissible in law.  Learned counsel further submits that since there was a bona fide error on the part of the Bank in deducting and depositing the said Tax, despite furnishing of the requisite Form (15H) by the Complainant, as the FDR had been obtained by the Complainant in favour of a Civil Court, the Bank should not be burdened with interest, as awarded by the District Forum at the rate of 18% per annum, as also the compensation of ₹15,000/- towards damages for the mental tension, hardship and inconvenience allegedly suffered by the Complainant.

       Having heard learned counsel for the parties and bearing in mind the peculiar facts and circumstances of the case, we are of the view that the submissions made on behalf of the Bank merit consideration.  Notwithstanding the fact that any reduction in the rate of interest and modification of the direction relating to the award of damages is opposed by learned counsel appearing for the Complainant we are convinced that in the present case, although there was deficiency in service on the part of the Bank in deducting the TDS, but no malafides can be attributed to the Bank.  Nevertheless, by the said deductions, the Complainant had been deprived of the interest, which he would have earned on the said amount of ₹1,67,101/-, on the said amount on maturity of the FDR.  Thus, balancing the equities between the parties, we direct the Bank to pay to the Complainant interest at the rate of 9% per annum on the aforesaid amount of ₹1,67,101/- from the date of filing of the Complaint till realization, in addition to the said Principal amount.  The amount of ₹15,000/- awarded to the Complainant as damages is also set aside.  However, the direction with regard to payment of a sum of ₹7,201.27p. is maintained. 

All the aforesaid amounts shall be paid to the Complainants within 6 weeks from the date of receipt of a copy of this order.  It is further directed that if the Bank choses to revise its TDS Return for the relevant period, the same shall be considered by the Authorities concerned in accordance with law, taking into consideration the peculiar circumstances and facts of the case.  It will also be open to the Bank to avail the benefit of the aforesaid amount, deducted as Tax at Source, as may be permissible in law.

       The Revision Petition stands disposed of in the above terms.  No costs.  Order dasti.