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2016 (1) TMI 349 - AT - Income TaxTDS u/s 194J - transaction charges paid to Stock Exchanges on which TDS was not deducted - assessee contended that it was under bona-fide belief TDS was not deductible and no disallowance be made u/s 40(1)(ia) - Held that:- no tax on the transaction charges paid/allowed by the assessee to the stock exchange shall require being deducted for tax at source u/s 194J of the Act where the assessee is able to show that tax on the same has been paid by the payee, i.e., has been offered as income subject to tax. The assessee is obliged to bring the relevant facts on record so as to satisfy the Assessing Officer with regard to the satisfaction of the condition, i.e., payment of tax on the impugned sum, subject to which only relief stands allowed to the assessee. - Decided in favour of assessee for statistical purposes.
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