https://www.taxtmi.com/caselaws?id=401107 The ITAT dismissed both appeals by the Department against orders of the CIT(A) concerning TDS applicability on payments made in kind under Section 194C of the Income Tax Act 1961. The ITAT upheld the CIT(A)'s decision, emphasizing the importance of considering ownership and determinable value of consideration passed in kind. Relying on a previous ITAT decision in favor of the assessee, the ITAT found no error in the CIT(A)'s findings and dismissed the Department's appeals, highlighting the significance of analyzing case-specific facts and legal precedents in interpreting tax laws effectively. en-us Thu, 19 Nov 2020 00:00:00 +0530 Fri, 27 Nov 2020 10:49:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401107 The ITAT dismissed both appeals by the Department against orders of the CIT(A) concerning TDS applicability on payments made in kind under Section 194C of the Income Tax Act 1961. The ITAT upheld the CIT(A)'s decision, emphasizing the importance of considering ownership and determinable value of consideration passed in kind. Relying on a previous ITAT decision in favor of the assessee, the ITAT found no error in the CIT(A)'s findings and dismissed the Department's appeals, highlighting the significance of analyzing case-specific facts and legal precedents in interpreting tax laws effectively. Case-Laws Income Tax Thu, 19 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401107