https://www.taxtmi.com/caselaws?id=204331 The High Court dismissed the revenue's appeals, affirming the decisions of the CIT(A) and the Tribunal. It held that discounting charges paid by the assessee to its associate concern were not to be treated as interest under the Income-tax Act. The court ruled that the charges were part of the sale consideration on goods sold, not interest, and therefore, the assessee was not obligated to deduct tax at source under section 195 of the Act. The judgment was supported by relevant CBDT circulars and previous Supreme Court rulings, concluding that no substantial question of law arose in the case. en-us Thu, 17 Feb 2011 00:00:00 +0530 Fri, 15 Jul 2011 14:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204331 The High Court dismissed the revenue's appeals, affirming the decisions of the CIT(A) and the Tribunal. It held that discounting charges paid by the assessee to its associate concern were not to be treated as interest under the Income-tax Act. The court ruled that the charges were part of the sale consideration on goods sold, not interest, and therefore, the assessee was not obligated to deduct tax at source under section 195 of the Act. The judgment was supported by relevant CBDT circulars and previous Supreme Court rulings, concluding that no substantial question of law arose in the case. Case-Laws Income Tax Thu, 17 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204331