https://www.taxtmi.com/caselaws?id=390502 The Tribunal allowed the assessee's appeal, setting aside the Principal Commissioner of Income Tax's order under Section 263 and restoring the Assessing Officer's assessment order. It was held that no obligation was imposed on the assessee to deduct tax at source on demurrage charges, in accordance with the Full Bench judgment of the Bombay High Court in V.S. Dempo & Co. Pvt. Ltd., thereby negating the need for disallowance under Section 40(a)(i). en-us Wed, 07 Aug 2019 00:00:00 +0530 Sat, 04 Jan 2020 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390502 The Tribunal allowed the assessee's appeal, setting aside the Principal Commissioner of Income Tax's order under Section 263 and restoring the Assessing Officer's assessment order. It was held that no obligation was imposed on the assessee to deduct tax at source on demurrage charges, in accordance with the Full Bench judgment of the Bombay High Court in V.S. Dempo & Co. Pvt. Ltd., thereby negating the need for disallowance under Section 40(a)(i). Case-Laws Income Tax Wed, 07 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390502