Chit dividend paid by of chit fund company to its members is not interest falling under section 2(28A) and, consequently, no deduction of TDS under section 194A is required to be made

Avenue Super Chits (P.) Ltd[2015] 58 taxmann.com 368 (Karnataka)JANUARY  16, 2015 CIT v. Sahib Chits (Delhi) (P.) Ltd. [2010] 328 ITR 342/[2009] 185 Taxman 34 (Delhi). (para 7)followed.