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Applicability of TDS is to be determined having regard to nature of transaction not by terminology
Case Law Details
- Case Name
- CIT-IV, New Delhi Vs Grup ISM P. Ltd., (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
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Applicability of TDS to be determined having regard to the agreement between the contracting parties and not by particular assumption of the deductee about the nature of transaction
Brief Facts of the case:
During the course of assessment proceedings, for AY 2004-05, the Assessing Officer (AO) noticed that the assessee Company made payment of Rs.56,54,963/- to M/s. CGS International, UAE and Rs. Rs 37,76,863/- to M/s. Marble Arts & Crafts LLC, UAE (aggregating to Rs.94,31,826/-) The AO noted that no TDS had been deducted by the assessee while making the payment to the said two foreign conc...
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