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2015 (11) TMI 280 - HC - Income TaxTDS credit - whether the receipts of amounts by the assessee from National Highways Authority of India (NHAI) could be treated as part of release of bank guarantee and the amount so received by the assessee should be treated as an advance and can it be an exception to the provisions of Section 199 of the Income Tax Act by availing all the benefits under Section 237 of the Act? - Held that:- If the amount is a mobilisation advance and not an income at all, the question of paying income tax would net arise. When the gross receipts is offered and in that assessment year he has suffered loss, the question of paying any tax on the said amount also does not arise. A conjoint reading of Sections 194C, 199 & 237 of the Act makes it clear that if there was no liability to pay tax, the TDS paid is liable to be refunded and that is absolutely what the Tribunal has stared. - Decided in favour of assessee.
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