https://www.taxtmi.com/caselaws?id=179975 The High Court of Andhra Pradesh dismissed two appeals (I.T.T.A. No. 64 of 2013 and I.T.T.A. No. 22 of 2013) concerning the interpretation of provisions of the Income Tax Act related to chit fund transactions and tax deduction at source under Section 194A. The court relied on previous decisions and held that discounts paid by a foreman to subscribers in chit fund transactions do not constitute interest, thus not requiring tax deduction at source. The appeals were rejected to maintain consistency with established legal positions. en-us Tue, 09 Jul 2013 00:00:00 +0530 Mon, 14 Mar 2016 14:42:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179975 The High Court of Andhra Pradesh dismissed two appeals (I.T.T.A. No. 64 of 2013 and I.T.T.A. No. 22 of 2013) concerning the interpretation of provisions of the Income Tax Act related to chit fund transactions and tax deduction at source under Section 194A. The court relied on previous decisions and held that discounts paid by a foreman to subscribers in chit fund transactions do not constitute interest, thus not requiring tax deduction at source. The appeals were rejected to maintain consistency with established legal positions. Case-Laws Income Tax Tue, 09 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179975