Case Law Details
Case Name : Royal Western India Turf Club Limited Vs ITO (ITAT Mumbai)
Related Assessment Year : 2016-17
Courts :
All ITAT ITAT Mumbai
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Royal Western India Turf Club Limited Vs ITO (ITAT Mumbai)
In a significant ruling for the horse racing industry, the Income Tax Appellate Tribunal (ITAT) Mumbai bench has affirmed that “stake money” received by horse owners from race clubs is not subject to Tax Deducted at Source (TDS) under either Section 194B or Section 194BB of the Income Tax Act, 1961. The decision came in the appeal filed by the Royal Western India Turf Club Limited (RWITC) against a demand of over ₹19.47 crore, including interest, for the Assessment Year 2016-17.
The Tribunal’s order, pronounced on M...
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Thanks for sharing case law, very informative ^ useful in TDS matters