Setting-off of sundry debtors against sundry creditors and applicability of TDS on payment for use of computer system to

Setting-off of sundry debtors against sundry creditors by a collection agent is not a remission of liability; withholding tax not applicable to payment for use of computer system to track freight shipments In brief a. Setting-off of sundry debtors against sundry creditors – not a remission of liability In a recent decision, in the case Menlo Worldwide Forwarding India Pvt. Ltd. Vs. DCIT [2010-T11-164-ITAT-DEL-INTL](the “assessee”), the Delhi Income-tax Appellate Tribunal (the “Tribunal”) held that the recording the setting-off of sundry debtors against sundry credito...