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2014 (12) TMI 1359 - AT - Income TaxTDS u/s 194J - payments to the stockiests - order u/s 201(1) read with section 201(1A) - Whether relationship between the assessee and the stockiest is of “principal to principal‟ basis ? - HELD THAT:- As decided in PIRAMAL HEALTHCARE LTD. [2012 (5) TMI 203 - ITAT MUMBAI] relationship between the assessee and the stockiests is in the nature of “principal to principal‟ relationship and not that the appointment of the Manager by the assessee. The same was answered by the assessee and against the Revenue. It is the finding of the Hon‟ble High Court [2015 (1) TMI 873 - BOMBAY HIGH COURT] .that the provisions of section 194J of the Act are not to be invoked with assessee is not making any payments to the stockiests. When the provisions of section 115J are not attracted by such transactions, it is the finding of the Hon‟ble High Court that the question is to whether there is a relationship of “principal to principal‟ or relationship of Manager becomes academic. TDS u/s 194J to the payments made by the assessee towards “Director‟s Sitting Fees" - Non deduction of tds - HELD THAT:-Provisions of section 194J of the Act need not be invoked in respect of the payments made to the Director‟s sitting fees considering the newly inserted provisions of section 194J(1)(ba) of the Act. Accordingly, we grant relief to the assessee in respect of ground no.2.
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