https://www.taxtmi.com/caselaws?id=372693 The Tribunal dismissed the appeal, affirming the Commissioner's decision that Letter of Credit (LC) discount charges were reimbursements to suppliers for expenses, not interest payments. As no interest was paid, section 194A did not apply, justifying the deletion of the disallowance under section 40(a)(ia) of the Income Tax Act for the assessment year 2008-09. en-us Mon, 19 Nov 2018 00:00:00 +0530 Thu, 27 Dec 2018 16:02:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372693 The Tribunal dismissed the appeal, affirming the Commissioner's decision that Letter of Credit (LC) discount charges were reimbursements to suppliers for expenses, not interest payments. As no interest was paid, section 194A did not apply, justifying the deletion of the disallowance under section 40(a)(ia) of the Income Tax Act for the assessment year 2008-09. Case-Laws Income Tax Mon, 19 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372693