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2018 (1) TMI 801 - AT - Income TaxTDS on payment made to bank towards bank charges and bank guarantee commission - Held that:- All the decisions reliance has been placed on Notification No. S03069 (E) NO. 56/2012 (F.NO. 27-section 197A of the Income Tax Act dated 31/12/12 which has held the circular to be clarificatory in nature and therefore though issued w.e.f. 01/01/13, applies retrospectively and hence no deduction of tax is required on payment of bank guarantee commission and bank charges to the banks. SEE Kotak Securities Limited Versus Deputy Commissioner of Income-tax, TDS Circle 2(1), Mumbai [ 2012 (2) TMI 77 - ITAT MUMBAI ] - Decided in favour of assessee
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