https://www.taxtmi.com/caselaws?id=443726 The Tribunal ruled in favor of the assessee, a nationalized bank, in a case involving liability to deduct TDS under sections 194-I and 194-A of the Income Tax Act. Regarding TDS on the additional premium paid, the Tribunal referred to a CBDT Circular, determining that the premium did not fall under section 194-I. As for TDS on interest for delayed payment of the premium, the Tribunal found the assessee exempt based on the nature of the institution receiving the interest. Consequently, the demands raised by the AO were deleted, and the Tribunal allowed the assessee's appeal for the assessment year 2008-09, remanding other appeals for statistical purposes. en-us Wed, 28 Jun 2023 00:00:00 +0530 Thu, 28 Sep 2023 21:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443726 The Tribunal ruled in favor of the assessee, a nationalized bank, in a case involving liability to deduct TDS under sections 194-I and 194-A of the Income Tax Act. Regarding TDS on the additional premium paid, the Tribunal referred to a CBDT Circular, determining that the premium did not fall under section 194-I. As for TDS on interest for delayed payment of the premium, the Tribunal found the assessee exempt based on the nature of the institution receiving the interest. Consequently, the demands raised by the AO were deleted, and the Tribunal allowed the assessee's appeal for the assessment year 2008-09, remanding other appeals for statistical purposes. Case-Laws Income Tax Wed, 28 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443726