No TDS on Agreement for Bulk Sale of Advertisement Space

Times VPL Limited Vs CIT (Karnataka High Court) In the instant case, appellant company had enter into an agreement for bulk sale of advertising space with its’ holding company on a principal to principal basis by transfer of rights therein. The appellant under the agreement makes purchase of advertisement space and exercises control over such space with the right to either sell it to other or retain it for itself. Thus, it is a transfer of advertising space to the assessee who in turn sells it to others. Therefore, aforesaid transaction can not be termed as supply of goods. It is evident...