TDS not deductible on Bank Guarantee Fee/Commission

North Eastern Carrying Corporation Ltd. Vs ACIT (ITAT Delhi)

ITAT held that assessee was not liable for deduction of tax at source on the bank guarantee fee/commission during the relevant period in absence of any principal agent relationship between the assessee and the bank.

FULL TEXT OF THE ORDER OF ITAT DELHI

This appeal by the assessee is directed against order dated 16/08/2017 passed by the learned Commissioner of Income-tax (Appeals)-6, Delhi [in short ‘the Ld. CIT(A)’] for assessment year 2013-14, raising following grounds:

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