https://www.taxtmi.com/caselaws?id=272616 The Tribunal dismissed all revenue appeals regarding the applicability of Section 194C on expenditure for packing material, sales promotion, and gift articles, ruling in favor of the assessees. The Tribunal upheld the CIT (A)'s decision that the payments did not fall under Section 194C but under 'Contract for sales.' Additionally, the Tribunal supported the deletion of notional interest on the partner's capital account, emphasizing the absence of interest payment on credit balances and an overall credit balance across all partners. en-us Tue, 21 Dec 2010 00:00:00 +0530 Wed, 09 May 2018 18:24:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272616 The Tribunal dismissed all revenue appeals regarding the applicability of Section 194C on expenditure for packing material, sales promotion, and gift articles, ruling in favor of the assessees. The Tribunal upheld the CIT (A)'s decision that the payments did not fall under Section 194C but under 'Contract for sales.' Additionally, the Tribunal supported the deletion of notional interest on the partner's capital account, emphasizing the absence of interest payment on credit balances and an overall credit balance across all partners. Case-Laws Income Tax Tue, 21 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272616