https://www.taxtmi.com/caselaws?id=291513 The Tribunal found that the payments made by the respondent-assessee-company to M/s.Bennet, Coleman & Co. for procurement of advertisement agency were not subject to TDS under sec.194C. Relying on Circular No.5 of 2016, which clarified the non-applicability of TDS on such payments due to the principal-to-principal relationship between media companies and advertising agencies, the Tribunal dismissed the revenue's appeal. The Tribunal held that the CBDT circulars were binding and beneficial to the assessee, affirming the CIT(A)'s decision in favor of the respondent-assessee-company. en-us Fri, 27 May 2016 00:00:00 +0530 Fri, 13 Nov 2020 21:17:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291513 The Tribunal found that the payments made by the respondent-assessee-company to M/s.Bennet, Coleman & Co. for procurement of advertisement agency were not subject to TDS under sec.194C. Relying on Circular No.5 of 2016, which clarified the non-applicability of TDS on such payments due to the principal-to-principal relationship between media companies and advertising agencies, the Tribunal dismissed the revenue's appeal. The Tribunal held that the CBDT circulars were binding and beneficial to the assessee, affirming the CIT(A)'s decision in favor of the respondent-assessee-company. Case-Laws Income Tax Fri, 27 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291513