Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2012 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (12) TMI 846 - HC - Income TaxTDS on C & F agents - 2.2% under Section 194C OR 22% under Section 194-I - assessee is a well known manufacture of consumer goods such as detergent, soaps etc. hiring godowns on rent and also engages c & f agents - Held that:- What is discernable from the materials on record is that the assessee had rented premises from their landlords. Payments of rent were made after deducting the tax in terms of Section 194-I. What the assessee paid to the c & f agents as warehousing charges was the consideration in terms of the agreement which was tax deductible under Section 194C at 2.2.%. In this factual background it was for the revenue to have established how Section 194-I could be attracted to the amounts or charges paid to the c & f agents in terms of the agreements. No infirmity in the findings of the CIT(Appeals) as endorsed by the ITAT that Section 194-I can only be applied when the immovable properties are let out & none of the heads of payments made to C & F Agents by the assessee is a head of payment by way of rent - in favour of assessee.
|