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2012 (3) TMI 338 - AT - Income TaxDisallowance of interest under section 36(1)(iii) deleted - Entitlement for enhanced deduction under section 80-IB Disallowance under section 40(a)(ia) - TDS under section 194C on payments made in lieu in contract with Amba Ply Chrome P. Ltd. - Held that:- This is a contract for sale no TDS is required to be deducted by the appellant under section 194C of the Act. Therefore, this amount is not disallowable while computing the income of the assessee. The main purpose of the appellant was to buy the packing and printing material from the third party for the purpose of packing and no works contract was involved. The provisions of section 194C read with section 40(a)(ia) of the Act have been wrongly held to be applicable in the appellant's case. The addition made is, therefore, deleted
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