Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2022 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (1) TMI 297 - CALCUTTA HIGH COURTTDS u/s 194H - bank guarantee commission - whether the bank guarantee commission is not in the nature of commission paid to an agent but it is in the nature of bank charges for providing one of the banking services and, if it so, whether the requirement for deduction at source under Section 194H would stand attracted? - HELD THAT:- This issue is no longer res integra and has been decided in the case of Commissioner of Income Tax-II Vs. JDS Apparels (P.) Ltd. [2014 (11) TMI 732 - DELHI HIGH COURT]. The Court after taking into consideration various decisions on the point held that the amount retained by the bank is a fee charged by them for having rendered the banking services and cannot be treated as a commission or brokerage paid in course of use of any services by a person acting on behalf of another for buying or selling of goods. Similar view has been taken in the case of Commissioner of Income tax (TDS)-1 Vs. Larsen & Toubro Ltd. [2018 (12) TMI 991 - BOMBAY HIGH COURT]. We are in respectful agreement with the aforementioned decisions and, consequently, held that the Tribunal rightly dismissed the appeal - Decided against revenue.
|