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2016 (12) TMI 944 - AT - Income TaxTDS u/s 194C or 194J - Non-deduction of TDS from the expenditure incurred for Effluent Treatment - short deduction of tds - Held that:- In deciding appeal in the case of Vapi Waste & Effluent Management Company Ltd. (VWEMCL), the ld.CIT(A) held that the said entity does not qualify for the concept of mutuality and thereby the profits earned by the company is subject to tax. In view of this, the contention of the ld.AR is rejected and the action of the AO is confirmed by the ld.CIT(A). TDS u/s 194A - interest and bill discount expenses - Held that:- There is a force in the submissions made by the ld.AR. Sec. 194A of the IT Act is not applicable in the case of Banking Company to which the Banking Regulation Act 1949 applies. Thus, the ld.CIT(A) held that the tax and interest levied in this connection merits deletion and allowed the ground raised by the assessee TDS u/s 194J - legal & professional charges - Held that:- AO stated that the appellant had debited Legal & Professional Charges of ₹ 7,22,275/- for which the appellant had deducted TDS @ 2.06% by applying sec. 194C instead of at the rate 10.33% as prescribed in sec.194J. The ld.CIT(A) held that the action of the AO cannot be faulted because the provisions u/s.194J is very clear to this effect. Thus assessee’s ground of appeal is dismissed by the ld.CIT(A). TDS u/s 194I - TDS on hiring expenses - Held that:- The assessee-company has already deducted and paid TDS u/s.194C of the Act. The A.O. in the order has stated that the assessee had agreed for this charge of levy TDS and interest thereon, the contest before the appellate authority became infructuous and the ground raised by the assessee was dismissed by the ld.CIT(A).
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