https://www.taxtmi.com/caselaws?id=354065 The Tribunal allowed the appeal filed by the assessee, holding that no TDS deduction was required on payments made to the bank for bank charges and bank guarantee commission. The Tribunal relied on the circular issued by the CBDT, which was deemed clarificatory and applied retrospectively. It was established that no principal-agent relationship existed between the bank and the assessee, thus exempting the payments from tax deduction obligations. The Tribunal's decision was influenced by previous rulings, including the case of Kotak Securities Ltd versus DCIT, supporting the appellant's position and leading to a favorable outcome in the appeal. en-us Fri, 12 Jan 2018 00:00:00 +0530 Wed, 17 Jan 2018 12:03:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354065 The Tribunal allowed the appeal filed by the assessee, holding that no TDS deduction was required on payments made to the bank for bank charges and bank guarantee commission. The Tribunal relied on the circular issued by the CBDT, which was deemed clarificatory and applied retrospectively. It was established that no principal-agent relationship existed between the bank and the assessee, thus exempting the payments from tax deduction obligations. The Tribunal's decision was influenced by previous rulings, including the case of Kotak Securities Ltd versus DCIT, supporting the appellant's position and leading to a favorable outcome in the appeal. Case-Laws Income Tax Fri, 12 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354065