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2014 (4) TMI 811 - ITAT LUCKNOWDeletion of allowance u/s 40(a)(ia) of the Act – Payment of commission u/s 194H of the Act – Held that:- CIT(A) rightly set aside the disallowance on the basis that since the commission income earned by the assessee and commission expenditure incurred by the assessee were in relation to securities, as per the provision of section 194H, no TDS was required to be deducted on such expenditure and consequently, no disallowance is to be made u/s 40(a)(ia) of the Act for this amount - the decision in Deputy Commissioner of Income-tax Versus SJ. Investment Agencies P. Ltd. [2011 (2) TMI 1427 - ITAT MUMBAI] followed - as per Explanation (i) to section 194H, no TDS was required to be deducted from such payment of commission because it is in relation to securities - payment of commission in relation to securities is covered by explanation (i) to section 194H and hence, TDS is not deductible – Decided against Revenue.
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