https://www.taxtmi.com/caselaws?id=198097 The appeal was filed by the Revenue against the order of the Commissioner of Income-tax (Appeals) regarding the addition made under section 40(a)(ia) for guarantee commission paid to a bank. The Tribunal upheld the decision, stating that there is no principal agent relationship between the bank issuing the bank guarantee and the assessee. Therefore, the transaction is not subject to tax deduction under section 194H. The appeal of the Revenue was dismissed, and the order of the Commissioner of Income-tax (Appeals) was upheld, clarifying the tax treatment of guarantee commission payments made to banks. en-us Thu, 06 Mar 2014 00:00:00 +0530 Mon, 22 Jan 2018 21:16:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198097 The appeal was filed by the Revenue against the order of the Commissioner of Income-tax (Appeals) regarding the addition made under section 40(a)(ia) for guarantee commission paid to a bank. The Tribunal upheld the decision, stating that there is no principal agent relationship between the bank issuing the bank guarantee and the assessee. Therefore, the transaction is not subject to tax deduction under section 194H. The appeal of the Revenue was dismissed, and the order of the Commissioner of Income-tax (Appeals) was upheld, clarifying the tax treatment of guarantee commission payments made to banks. Case-Laws Income Tax Thu, 06 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198097