Payments for Business Information Reports did not attract Section 195 TDS: Bombay HC

Director of Income Tax (International Taxation) Vs Dun and Bradstreet Information Services India Pvt. Ltd. (Bombay High Court) The Bombay High Court examined whether the ITAT was justified in cancelling an order passed under Sections 195 and 201 of the Income-tax Act, 1961. The case involved remittances made by the assessee for importing Business Information Reports from Dun & Bradstreet, USA without deducting tax at source. The Assessing Officer held that tax deduction at source was required and passed an order under Sections 195 read with 201, which was upheld by the CIT(A). Read SC Judg...