Addition u/s 40(a)(ia) - TDS u/s 194C - Freight charges paid - ...

Court Rules TDS u/s 194C Not Applicable to Freight Charges for FY 2006-07; Assessee Entitled to Deduct Amount.

August 13, 2021

Case Laws Income Tax HC

Addition u/s 40(a)(ia) - TDS u/s 194C - Freight charges paid - Liability for deducting tax at source for payments made to individual contractors above the monetary limits arose only with effect from 01.06.2007. When the liability to make such deduction arose from 01.06.2007, it cannot be assumed that for failure to deduct such a tax at source for the previous year 2006-07, (i.e.01.04.2006 to 31.03.2007), the assessee should be put to a liability for non-deduction of such tax at source. - the assessee was entitled to deduct the aforesaid sum even though tax had not been deducted at source. - HC

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Addition u/s 40(a)(ia) - TDS u/s 194C - Freight charges paid - ...

Court Rules TDS u/s 194C Not Applicable to Freight Charges for FY 2006-07; Assessee Entitled to Deduct Amount.

August 13, 2021

Case Laws Income Tax HC

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