https://www.taxtmi.com/caselaws?id=391828 The High Court of Bombay clarified the interpretation of Section 194H of the Income Tax Act, 1961, ruling in favor of the assessee regarding the tax liability of amounts retained by a bank/credit card agency from sale consideration through credit cards. The court dismissed the revenue's appeal, affirming that the assessee was not liable to deduct tax at source under Section 194H. The judgment did not extensively address the existence of a principal and agent relationship, as the decision primarily focused on the tax liability aspect. en-us Tue, 04 Feb 2020 00:00:00 +0530 Fri, 27 Mar 2020 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391828 The High Court of Bombay clarified the interpretation of Section 194H of the Income Tax Act, 1961, ruling in favor of the assessee regarding the tax liability of amounts retained by a bank/credit card agency from sale consideration through credit cards. The court dismissed the revenue's appeal, affirming that the assessee was not liable to deduct tax at source under Section 194H. The judgment did not extensively address the existence of a principal and agent relationship, as the decision primarily focused on the tax liability aspect. Case-Laws Income Tax Tue, 04 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391828