2016 (7) TMI 1284

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.... Bhawar Singh Ratnoo ORDER PER AMARJIT SINGH, JM: This is an appeal filed by the revenue against the order dated 12.06.2014 passed by the Commissioner of Income Tax (Appeals)-14, Mumbai [hereinafter referred to as the "CIT(A)"] relevant to the assessment year 2011-12. Assessee by: Shri Dilip V. Lakhani Department by: Shri Bhawar Singh Ratnoo 2. The brief facts of the case are that the ....

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....accordingly not liable to TDS. Thereafter, the notice u/s.201(1) /201(1A) of the Act was issued on 12.03.2013 to the assessee. Reply filed. The assessee was find in default of non-deducting of TDS on bank guarantee commission to the tune of Rs. 94,19,985/- upon which TDS to the tune of Rs. 9,41,999/- was required to be deducted. Thereafter the interest u/s.201(1A) of the Act to the tune of Rs. 3,3....

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....y the interest is also required to be payable u/s.201(1A) of the Act. In appeal the learned CIT(A) has deleted the addition in view of the case of M/s. Kotak Securities Ltd. (Supra). It is specifically held that no TDS is payable on bank guarantee charges u/s. 194H of the Act. Therefore, the same is not liable to be deducted. Accordingly, the learned CIT(A) deleted the said addition. This issue ha....