Dismissing the appeal of the Revenue the Court held that storage tank did not qualify either as land or as building within meaning of section 194I, payments is not liable to deduct tax at source. (AY. 1997-98, 1998-99)
CIT (TDS) v. B. Arunkunar Trading Ltd (2024) 297 Taxman 567 /465 ITR 748/339 CTR 49 (Bom)(HC)
S. 194I : Deduction at source-Rent-Storage charges-Storage tanks-Did not qualify either as land or as building-Not liable to deduct tax at source. [S. 201(IA), (260A]