CIT (TDS) v. ITD Cementation India Ltd. (2022) 285 Taxman 379 (Cal.)(HC)

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Bank charges-Bank guarantee commission-Fee charged by bank-Not liable to deduct tax at source. [S. 194H]

Held that the amount retained by bank as bank guarantee commission is a fee charged by them for having rendered banking services and cannot be treated as a commission or brokerage paid in course of use of any services by a person acting on behalf of another for buying or selling of goods and thus, same is not liable to TDS under section 194H.  (AY. 2011-12