Applicability of TDS is to be determined having regard to nature of transaction not by terminology

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

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