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2024 (2) TMI 1341 - BOMBAY HIGH COURTTDS u/s 194I or 194C - storage charges paid by assessee - TDS @ 20% or 2% - HELD THAT:- The storage tanks in question do not qualify either as land or as building within the meaning of Section 194I of the Act. In terms of Section 194I of the Act, there has to be a lease, sub-lease or tenancy or any other agreement involving land or any building excluding factory building. It is not the case of the Revenue that the storage tank was taken on lease or sub-lease or tenancy. Assessee’s case would fall under the part “or any other agreement involving land or any building, together with furniture, fittings and the land appurtenant thereto”. It is nobody’s case that assessee has taken any land or building together with furniture, fittings and the land appurtenant thereto. Thus we hold that the payments in question are liable for deduction of tax at source under the provisions of Section 194I - Decided in favour of assessee.
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