https://www.taxtmi.com/caselaws?id=418522 The Tribunal dismissed the Revenue's appeal, upholding the Commissioner (Appeals)' decision to limit the disallowance under section 40(a)(ia) to Rs. 95,68,829 for non-deduction of TDS on guarantee commission paid to the bank. The Tribunal found the tax effect on the disputed amount to be below Rs. 50 lakhs, rendering the appeal not maintainable as per CBDT Circular No. 17/2019. It affirmed that TDS provisions did not apply to certain bank guarantee commission payments to scheduled Indian banks, excluding foreign banks, in line with Circular No. 56 of 2012 and relevant judicial precedents. en-us Wed, 16 Feb 2022 00:00:00 +0530 Fri, 18 Feb 2022 07:34:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418522 The Tribunal dismissed the Revenue's appeal, upholding the Commissioner (Appeals)' decision to limit the disallowance under section 40(a)(ia) to Rs. 95,68,829 for non-deduction of TDS on guarantee commission paid to the bank. The Tribunal found the tax effect on the disputed amount to be below Rs. 50 lakhs, rendering the appeal not maintainable as per CBDT Circular No. 17/2019. It affirmed that TDS provisions did not apply to certain bank guarantee commission payments to scheduled Indian banks, excluding foreign banks, in line with Circular No. 56 of 2012 and relevant judicial precedents. Case-Laws Income Tax Wed, 16 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418522