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2016 (7) TMI 1284 - AT - Income TaxTDS u/s. 194H - TDS on interest/commission payable on bank guarantee - Held that:- In view of the case of M/s. Kotak Securities Ltd. (2012 (2) TMI 77 - ITAT MUMBAI) it is specifically held that no TDS is payable on bank guarantee charges u/s. 194H of the Act. Therefore, the same is not liable to be deducted. This issue has further came into existence in the assessee’s own case for the A.Y.2010-11 wherein ITAT while deciding the matter in the assessee’s own case has also decided the issue in favour of the assessee on relying the case decided by the Hon’ble Tribunal M/s. Kotak Securities Ltd. (Supra). - Decided in favour of assessee.
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