ITAT allows Finance Charges paid to NBFCs without TDS deduction as NBFCs included the same in their Income

ACIT Vs Smt. Champa Nandi (ITAT Kolkata)

The Income Tax Appellate Tribunal ( ITAT ), Kolkata has held that the finance charges to Non-Banking Financial Companies (NBFCs) are not subject to Tax Deduction at Source ( TDS ) under the provisions of section 194A of the Income Tax Act.

The assessee has debited in his profit and loss account an aggregate sum of R

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