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2023 (1) TMI 72 - SCH - Income TaxTDS on commission income paid to foreign agents and the non-deduction of TDS - addition u/s 40(a)(ia) r/w. Section 195(1) as demurrage paid to a non-resident buyer of iron ore without deducting TDS - HELD THAT:- As issues raised before the High Court [2017 (9) TMI 248 - BOMBAY HIGH COURT] were held against the Revenue with respect to the earlier assessment years – 2005-2006 & 2009-2010. The matter has not been carried further by the Revenue. In that view of the matter, no error has been committed by the ITAT and/or even the High Court. Hence, the present Special Leave Petition stands dismissed. Losses due to foreign exchange fluctuation on the export proceeds - SLP against HC [2018 (3) TMI 2003 - DELHI HIGH COURT] - HELD THAT:- The issue is covered by the decision of this Court in the case of CIT vs. Woodward Governor India (P) Ltd. [2009 (4) TMI 4 - SUPREME COURT] Mr. N. Venkatraman, learned ASG, is not in a position to dispute the above. Under the circumstances, it cannot be said that the High Court has committed any error in holding the said issue against the Revenue relying upon the decision in the case of Woodward Governor India (P) Ltd. (supra). Advance of interest-free loans to the related party - As the amount involved is Rs.6,00,000/- only, keeping the question of law, if any, open, we dismiss the present Special Leave Petition(s) qua the said issue. Non-deduction of TDS on account of export commission - It is required to be noted that there are concurrent findings recorded that the foreign entity receiving the amounts were not Indian residents and subject to tax and that the services rendered were rendered outside India, neither the ITAT nor the High Court have committed any error in holding the said issue against the Revenue.
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