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2014 (1) TMI 1435 - AT - Income TaxTDS on JCB charges treated as contractual payment u/s 194C instead of rent u/s 194I of the Act – Held that:- The CIT(A) has given a finding on fact that all the parties have filed their returns of income and paid their taxes due as applicable - The assessee's case is duly covered by the CBDT Circular and the decision inM/s. Hindustan Coca Cola Beverage Pvt. Ltd Versus Commissioner of Income Tax [2007 (8) TMI 12 - SUPREME COURT OF INDIA] - The Revenue could not controvert the finding of the CIT(A) by placing any relevant material on record – thus, the order of the CIT(A) upheld – Decided against Revenue. TDS in respect of interest expenditure - Held that:- There was force in the assessee that the tax would be deductible only on the interest part and the liability can be fastened to that extent – thus, the AO is directed to verify the claim of the assessee with regard to the deduction of tax and also direct to compute the liability of the assessee to the extent of interest paid by the assessee – Decided partly in favour of Assessee.
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