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2020 (12) TMI 1280 - ITAT BANGALORE
TDS u/s 194B or 194BB - disallowance in respect of payment of stake money under section 40(a)(ia) - stake money and cups disbursed to horse owners without deducting TDS - HELD THAT:- As decided by Mumbai Tribunal in case of Royal Western Turf Club Ltd [2019 (8) TMI 402 - ITAT MUMBAI] section 194B/194BB are not applicable to stake money.
Respectfully following the same we also hold that stake money paid by assessee to the horse owners are not liable to TDS under section 194B or section 194 BB of the Act. Consequentially no disallowance could be made under section 40 (a) (ia) of the act in the hands of assessee. - Decided in favour of assessee.