https://www.taxtmi.com/caselaws?id=346546 The Tribunal upheld the CIT(A)'s decisions in all three issues. The penalties under section 271(1)(c) for non-deduction of tax at source were deleted based on the agreements not being work contracts requiring TDS. The disallowance under section 40(a)(ia) for non-deduction of TDS on works contracts was also deleted due to the principal-to-principal nature of the contracts. Additionally, the set-off of unabsorbed depreciation was allowed, as the time limit for carry forward was removed post-2001, as per legal interpretations and precedents. en-us Thu, 13 Jul 2017 00:00:00 +0530 Fri, 18 Aug 2017 08:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346546 The Tribunal upheld the CIT(A)'s decisions in all three issues. The penalties under section 271(1)(c) for non-deduction of tax at source were deleted based on the agreements not being work contracts requiring TDS. The disallowance under section 40(a)(ia) for non-deduction of TDS on works contracts was also deleted due to the principal-to-principal nature of the contracts. Additionally, the set-off of unabsorbed depreciation was allowed, as the time limit for carry forward was removed post-2001, as per legal interpretations and precedents. Case-Laws Income Tax Thu, 13 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346546