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2018 (6) TMI 1108 - ITAT AHMEDABADTDS u/s 194A - tds on discounting charges - default for non deduction of TDS u/s. 40(a)(ia) - assessee in default - Held tat:- The discounting charges paid by the assessee are not akin to interest on finance expenses. Therefore, no disallowance on account of non-deduction of TDS u/s. 194A r.w.s. 40(a)(ia) of the Act can be made. See PR. CIT-06 VERSUS M. SONS GEMS N JEWELLERY PVT. LTD. (FORMERLY: M SONS ENTERPRISES PVT. LTD.) C/O SSAR & ASSOCIATES [2016 (4) TMI 1132 - DELHI HIGH COURT] We also find force in the alternate argument raised by the Learned AR that L&T Finance Ltd. has paid the taxes on the discounting charges received from the assessee. Indeed The said proviso though inserted by the Finance Act 2012 w.e.f. 1-4-2013 has been held to be retrospective in operation by recent decision of the Hon'ble Delhi High Court in the case of CIT v. Ansal Land Mark Township (P) Ltd. [2015 (9) TMI 79 - DELHI HIGH COURT] - decided in favour of assessee
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