https://www.taxtmi.com/caselaws?id=327018 The Court upheld the ITAT's decision that the sum debited for factoring/discounting charges did not qualify as interest under Section 194A of the Income Tax Act. It found that the charges were for factoring facility, not interest subject to TDS deduction. The Court dismissed the Revenue's appeal, stating no substantial legal question arose, and affirmed that the charges were not disallowable under Section 40(a)(ia). en-us Mon, 25 Apr 2016 00:00:00 +0530 Sat, 30 Apr 2016 11:22:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327018 The Court upheld the ITAT's decision that the sum debited for factoring/discounting charges did not qualify as interest under Section 194A of the Income Tax Act. It found that the charges were for factoring facility, not interest subject to TDS deduction. The Court dismissed the Revenue's appeal, stating no substantial legal question arose, and affirmed that the charges were not disallowable under Section 40(a)(ia). Case-Laws Income Tax Mon, 25 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327018