https://www.taxtmi.com/caselaws?id=400348 The court dismissed the appeals, ruling in favor of the Revenue, as the assesses were obligated to deduct tax at source on Usance charges paid to Indian banks for Letters of Credit used in transactions with non-resident sellers. The judgment emphasized the applicability of Section 195 of the IT Act and the necessity of complying with TDS obligations in such cases. en-us Mon, 02 Nov 2020 00:00:00 +0530 Thu, 24 Dec 2020 17:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400348 The court dismissed the appeals, ruling in favor of the Revenue, as the assesses were obligated to deduct tax at source on Usance charges paid to Indian banks for Letters of Credit used in transactions with non-resident sellers. The judgment emphasized the applicability of Section 195 of the IT Act and the necessity of complying with TDS obligations in such cases. Case-Laws Income Tax Mon, 02 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400348