https://www.taxtmi.com/caselaws?id=250613 The Court ruled in favor of the assessee, holding that Section 194C, not Section 194I, should apply for TDS deduction in cases of transport contracts. The Court found errors in the Tribunal's application of Sections 194-C and 194-I, as well as its reliance on outdated Circulars. It was determined that 'Plant' under Section 43(3) includes vehicles for TDS deduction. The Court disagreed with the Tribunal's interpretation and previous ITAT judgments, ultimately deciding in favor of the assessee and against the Revenue, with no costs awarded. en-us Mon, 11 Aug 2014 00:00:00 +0530 Wed, 20 Aug 2014 08:22:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250613 The Court ruled in favor of the assessee, holding that Section 194C, not Section 194I, should apply for TDS deduction in cases of transport contracts. The Court found errors in the Tribunal's application of Sections 194-C and 194-I, as well as its reliance on outdated Circulars. It was determined that 'Plant' under Section 43(3) includes vehicles for TDS deduction. The Court disagreed with the Tribunal's interpretation and previous ITAT judgments, ultimately deciding in favor of the assessee and against the Revenue, with no costs awarded. Case-Laws Income Tax Mon, 11 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250613