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2019 (8) TMI 1801 - HC - Income TaxTDS u/s 194H - payment of insurance premium to co-insurer - Disallowance u/s 40(a)(ia) - whether Tribunal was correct in confirming that the co-insurance commission is allowabel under the provisions of sec-40(a)(ia) and does not require to deduct TDS on such payments? - Revenue contended that the Tribunal has without recording its separate reasons, confirmed the decision of the CIT (Appeals) - HELD THAT:- With respect to this suggestion, we are in agreement. We wish the Tribunal had given, howsoever brief, its reasons for rejecting the Revenue’s ground of appeal. However, this would not persuade us to admit this question. This is because the facts on record are rather clear. The respondent – assessee is an insurance company. The assessee and the other insurance company had jointly insured a certain risk. The assessee had received the entire premium, part of which was paid to the co-insurer in the proportion of its risk insured. This is clearly, therefore, not a case for payment of commission. This is what the Commissioner in his legal order has held. In that view of the matter, these additional questions are also not considered.
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