No TDS U/s. 194H on Commission by sub-broker on Security Transactions

ACIT Vs Rajesh Falor (ITAT Kolkata)

Assessee had paid commission to the remisiers in the sum of Rs 46,63,217/- and claimed the same as deduction. The ld CITA had given a finding that the said payment was made by the assessee in relation to the security transactions carried out by him in the capacity of sub-broker and accordingly the said payment would not be liable for deduction of tax at source in terms of Explanation to section 194H of the Act.

FULL TEXT OF THE ITAT JUDGMENT

1. This appeal by

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