https://www.taxtmi.com/caselaws?id=389790 The ITAT Delhi allowed the appeal, ruling in favor of the assessee and directing the deletion of the disallowance of bank guarantee charges under Section 40(a)(ia) of the Income Tax Act, 1961. The ITAT held that payments to scheduled banks for bank guarantee charges do not attract TDS provisions, citing judicial precedents and legal provisions. The CIT(A)'s findings were considered unfounded, leading to the instruction for the AO to remove the addition of Rs. 10,58,963. en-us Wed, 04 Dec 2019 00:00:00 +0530 Tue, 17 Dec 2019 15:12:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389790 The ITAT Delhi allowed the appeal, ruling in favor of the assessee and directing the deletion of the disallowance of bank guarantee charges under Section 40(a)(ia) of the Income Tax Act, 1961. The ITAT held that payments to scheduled banks for bank guarantee charges do not attract TDS provisions, citing judicial precedents and legal provisions. The CIT(A)'s findings were considered unfounded, leading to the instruction for the AO to remove the addition of Rs. 10,58,963. Case-Laws Income Tax Wed, 04 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389790