https://www.taxtmi.com/caselaws?id=759883 The ITAT Mumbai dismissed the revenue's appeal regarding TDS non-deduction under section 194LBC on EIS payments to an originator. The CIT(A) had ruled that the originator was not an "investor" under section 194LBC read with section 115TCA since they had not subscribed to PTCs nor made any investment. The ITAT upheld this decision, relying on coordinate bench precedents in similar cases involving Syamantaka IFMR Capital, Vivriti Cibus, and SME Pool Series, which consistently supported the assessee's position that section 194LBC provisions were not applicable in such circumstances. en-us Mon, 07 Oct 2024 00:00:00 +0530 Wed, 09 Oct 2024 15:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759883 The ITAT Mumbai dismissed the revenue's appeal regarding TDS non-deduction under section 194LBC on EIS payments to an originator. The CIT(A) had ruled that the originator was not an "investor" under section 194LBC read with section 115TCA since they had not subscribed to PTCs nor made any investment. The ITAT upheld this decision, relying on coordinate bench precedents in similar cases involving Syamantaka IFMR Capital, Vivriti Cibus, and SME Pool Series, which consistently supported the assessee's position that section 194LBC provisions were not applicable in such circumstances. Case-Laws Income Tax Mon, 07 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759883