https://www.taxtmi.com/caselaws?id=390988 The Tribunal ruled in favor of the assessee, determining that Section 194H did not apply to discounts given to prepaid distributors, as the relationship was Principal to Principal. Consequently, the assessee was not an "assessee in default" under Sections 201(1) and 201(1A), and the interest levied under Section 201(1A) was unjustified and ordered to be deleted. The Tribunal's decision aligned with precedents set by various High Courts, supporting the assessee's stance on non-deduction of tax at source for such discounts. en-us Wed, 13 Nov 2019 00:00:00 +0530 Thu, 07 Nov 2024 12:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390988 The Tribunal ruled in favor of the assessee, determining that Section 194H did not apply to discounts given to prepaid distributors, as the relationship was Principal to Principal. Consequently, the assessee was not an "assessee in default" under Sections 201(1) and 201(1A), and the interest levied under Section 201(1A) was unjustified and ordered to be deleted. The Tribunal's decision aligned with precedents set by various High Courts, supporting the assessee's stance on non-deduction of tax at source for such discounts. Case-Laws Income Tax Wed, 13 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390988