https://www.taxtmi.com/caselaws?id=369208 The Tribunal partly allowed the appeals concerning the short deduction of tax and interest under Sections 201(1) and 201(1A) of the Income Tax Act. It upheld the requirement to deduct tax at source under Section 194C on payments made to various parties and clarified that payments to foreign companies for the supply of equipment did not necessitate tax deduction under Section 195. The Tribunal directed a re-examination of payments to the State Trading Corporation of India Ltd. for correct TDS application and deleted the penalty under Section 271C for the assessment year 2010-11, citing a reasonable cause for non-deduction. en-us Mon, 15 Oct 2018 00:00:00 +0530 Tue, 23 Oct 2018 06:52:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369208 The Tribunal partly allowed the appeals concerning the short deduction of tax and interest under Sections 201(1) and 201(1A) of the Income Tax Act. It upheld the requirement to deduct tax at source under Section 194C on payments made to various parties and clarified that payments to foreign companies for the supply of equipment did not necessitate tax deduction under Section 195. The Tribunal directed a re-examination of payments to the State Trading Corporation of India Ltd. for correct TDS application and deleted the penalty under Section 271C for the assessment year 2010-11, citing a reasonable cause for non-deduction. Case-Laws Income Tax Mon, 15 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369208