Possession of transport vehicles sufficient for Section 194C TDS exception

Adhunik Khanan VA Parivahan Theka Sahakari Samiti Limited Vs ITO (ITAT Jodhpur) Introduction: In a landmark decision by the ITAT Jodhpur in the case of Adhunik Khanan VA Parivahan Theka Sahakari Samiti Limited Vs ITO, a significant clarification was made regarding the applicability of TDS under Section 194C of the Income Tax Act. The ruling emphasized that for the purpose of TDS exemption under this section, the possession of transport vehicles is deemed sufficient, rather than their legal ownership. Detailed Analysis The Case Background: The appeals were filed by Adhunik Khanan VA Parivahan T...