ITAT Stays Demand due to non-deduction of TDS on Reinsurance Commission

AXA France Vie Vs ACIT (ITAT Delhi) It is evident, the demand in dispute is as a result of disallowance made under section 40(a)(ia) of the Act due to alleged non-compliance with the provisions of section 194D of the Act. It is the claim of the assessee that the provision contained under section 194D is not applicable to the reinsurance commission. The acceptability or otherwise of the aforesaid contention of the assessee has to be tested when the issue is heard on merits at the time of hearing of the appeal. However, after careful examination of the ratio laid down in various judicial precede...