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TMI Blog2015 (9) TMI 805X X X X Extracts X X X X X X X X Extracts X X X X ..... appellant revenue in this appeal under section 260A of the Income Tax Act, 1961 (hereinafter referred to as "the Act") has challenged the order dated 20.3.2015 made by the Income Tax Appellate Tribunal, Rajkot Bench, Rajkot in ITA No.1006/RJT/2010 by proposing the following two questions stated to be substantial questions of law :- "(A) Whether on facts and in the circumstances of the case, ITA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncy Private Limited for taking dumper, tanker, hydra, forklift etc. from it. According to the Assessing Officer, the assessee was bound to deduct TDS under section 194C of the Act on such payment but it failed to do so. He, accordingly, disallowed payment of Rs. 45,56,000/- on which no TDS was deducted under section 40(a)(ia) of the Act. The assessee carried the matter in appeal before the Commiss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the fact that in the present case the sister concern of the assessee had leased its idle equipments to the assessee which were utilised by the assessee and payment was made to the sister concern. This transaction was not in the nature of contract but was in the nature of lease agreement and, therefore, could not be treated as contracted payment as per the provisions of section 194C of the Act an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y of section 194C of the Act is concerned, both, the Commissioner (Appeals) as well as the Tribunal have recorded a concurrent finding of fact to the effect that there was no contract between the assessee and its sister concern and that as and when such equipments were lying idle and the assessee needed them, the same were utilised by the assessee and payment was made to the sister concern. Theref ..... X X X X Extracts X X X X X X X X Extracts X X X X
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