https://www.taxtmi.com/caselaws?id=325779 The Tribunal ruled in favor of the assessee, determining that the reimbursement of bank guarantee commission was not akin to interest and therefore not subject to tax deduction under section 194A. The Tribunal found that the AO's application of section 194C for tax deduction was appropriate, emphasizing that the transaction did not involve interest-bearing elements. Consequently, the Tribunal allowed the appeals of the assessee, concluding that the order under section 263 was unwarranted based on the legal provisions and merits of the case. en-us Fri, 19 Feb 2016 00:00:00 +0530 Mon, 08 Aug 2022 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325779 The Tribunal ruled in favor of the assessee, determining that the reimbursement of bank guarantee commission was not akin to interest and therefore not subject to tax deduction under section 194A. The Tribunal found that the AO's application of section 194C for tax deduction was appropriate, emphasizing that the transaction did not involve interest-bearing elements. Consequently, the Tribunal allowed the appeals of the assessee, concluding that the order under section 263 was unwarranted based on the legal provisions and merits of the case. Case-Laws Income Tax Fri, 19 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325779