https://www.taxtmi.com/caselaws?id=309518 The Division Bench of the Bombay High Court upheld the Income Tax Appellate Tribunal's decision that the discount given by an assessee to its distributors on prepaid SIM cards did not require deduction of tax under Section 194H of the Income Tax Act. The Court ruled that when transactions are on a principal-to-principal basis and not for commission or brokerage, TDS under Section 194H does not apply. The Court found no substantial question of law in the appellant's arguments, affirming the Tribunal's decision and disposing of the appeal in favor of the assessee. en-us Mon, 13 Jan 2020 00:00:00 +0530 Thu, 07 Sep 2023 13:08:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309518 The Division Bench of the Bombay High Court upheld the Income Tax Appellate Tribunal's decision that the discount given by an assessee to its distributors on prepaid SIM cards did not require deduction of tax under Section 194H of the Income Tax Act. The Court ruled that when transactions are on a principal-to-principal basis and not for commission or brokerage, TDS under Section 194H does not apply. The Court found no substantial question of law in the appellant's arguments, affirming the Tribunal's decision and disposing of the appeal in favor of the assessee. Case-Laws Income Tax Mon, 13 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309518