{"id":17495,"date":"2021-05-01T15:10:28","date_gmt":"2021-05-01T09:40:28","guid":{"rendered":"https:\/\/itatonline.org\/digest\/cit-v-corporation-bank-2021-431-itr-554-277-taxman-207-karn-hc\/"},"modified":"2022-01-15T12:35:49","modified_gmt":"2022-01-15T07:05:49","slug":"cit-v-corporation-bank-2021-431-itr-554-277-taxman-207-karn-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-corporation-bank-2021-431-itr-554-277-taxman-207-karn-hc\/","title":{"rendered":"CIT v. Corporation Bank (2021) 431 ITR 554\/ 277 Taxman 207 \/ 204 DTR 92  (Karn) (HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that\u00a0 the relationship between the assessee and any other bank was not of agency but that of two independent banks on principal-principal basis. Even assuming that the transaction was being routed to National Financial Switch and Cash Tree, then also it was pertinent to mention that the same was a consortium of banks and no commission or brokerage was paid to it. It did not act as an agent for collecting charges. Hence the provisions of section\u00a0194H\u00a0of the Act were not attracted . ( AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 194H : Deduction at source \u2013 Commission or brokerage \u2013 Credit card holder-Transactions on principal to principal basis \u2013 Not liable to deduct tax at source   [ S.40(a)(ia ) ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-17495","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-4yb","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=17495"}],"version-history":[{"count":4,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17495\/revisions"}],"predecessor-version":[{"id":24054,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17495\/revisions\/24054"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=17495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=17495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=17495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}