https://www.taxtmi.com/caselaws?id=199263 The Tribunal allowed the Assessee's appeal, setting aside the additions made by the Assessing Officer and the Commissioner of Income Tax (Appeals). The Tribunal held that no tax deduction at source was required under s. 194C if the payees furnished their Permanent Account Numbers as per s. 194C(6). Additionally, the disallowance of expenses under the head gifts was overturned as the expenses were genuine, part of a business strategy, and properly accounted for. The judgment emphasized compliance with statutory requirements in determining tax liabilities under the Income Tax Act. en-us Tue, 31 Jan 2017 00:00:00 +0530 Sat, 24 Feb 2018 08:19:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199263 The Tribunal allowed the Assessee's appeal, setting aside the additions made by the Assessing Officer and the Commissioner of Income Tax (Appeals). The Tribunal held that no tax deduction at source was required under s. 194C if the payees furnished their Permanent Account Numbers as per s. 194C(6). Additionally, the disallowance of expenses under the head gifts was overturned as the expenses were genuine, part of a business strategy, and properly accounted for. The judgment emphasized compliance with statutory requirements in determining tax liabilities under the Income Tax Act. Case-Laws Income Tax Tue, 31 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199263