No section 194C TDS on Reimbursement of Freight Charges to C&F Agents

Zephyr Biomedicals Vs JCIT (High Court of Bombay at Goa) The issue under consideration is whether the payments made to C & F agents which is outright reimbursement of freight charges having no element of profit is liable to deduct tax at source under Section 194C of IT Act? High Court states that, in the present case, the C & F agents had raised separate bills towards reimbursement of freight charges paid to the carriers and the actual service charges of the C & F agents. Therefore, the payments made by the Assessees towards reimbursement never had any income element therein. Thus,...