https://www.taxtmi.com/caselaws?id=387645 The High Court ruled in favor of the petitioner, an on-board agency, regarding the disallowance of freight payments under Section 40(a)(ia) of the Income Tax Act for the assessment year 2006-2007. The Court held that the freight charges were direct costs, not income subject to tax deduction at source, given the petitioner's role as a transporter. The Commissioner's decision to reject the petitioner's revision under Section 264 was overturned as the Court clarified the nature of the petitioner's business operations. The Court applied the judgment from a previous year, allowing the appeal and directing the deletion of the disallowed freight payments, partially granting relief to the petitioner. en-us Fri, 20 Sep 2019 00:00:00 +0530 Sat, 26 Oct 2019 11:33:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387645 The High Court ruled in favor of the petitioner, an on-board agency, regarding the disallowance of freight payments under Section 40(a)(ia) of the Income Tax Act for the assessment year 2006-2007. The Court held that the freight charges were direct costs, not income subject to tax deduction at source, given the petitioner's role as a transporter. The Commissioner's decision to reject the petitioner's revision under Section 264 was overturned as the Court clarified the nature of the petitioner's business operations. The Court applied the judgment from a previous year, allowing the appeal and directing the deletion of the disallowed freight payments, partially granting relief to the petitioner. Case-Laws Income Tax Fri, 20 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387645