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2014 (8) TMI 426 - HC - Income TaxTDS on hiring of Buses - transportation of students - Liability to deduct TDS @ 2% u/s 194C or u/s 194I – Explanation to section 194I not considered – Held that:- The Tribunal has rightly held that the contract would indicate that the assessee has not taken possession of the buses - the Tribunal was correct in coming to the conclusion that the provisions of Section 194-C and not Section 194I of the Act were attracted - the agreement between the assessee and the transporters was not akin to the taking of any 'plant' or 'machinery' on lease or any other similar arrangement - the assessee had correctly deducted tax at source u/s 194C of the Act – Decided against Revenue.
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