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TMI Blog2016 (7) TMI 1284X X X X Extracts X X X X X X X X Extracts X X X X ..... ARJIT SINGH, JM: This is an appeal filed by the revenue against the order dated 12.06.2014 passed by the Commissioner of Income Tax (Appeals)-14, Mumbai [hereinafter referred to as the "CIT(A)"] relevant to the assessment year 2011-12. Assessee by: Shri Dilip V. Lakhani Department by: Shri Bhawar Singh Ratnoo 2. The brief facts of the case are that the survey operation u/s.133A of the Income Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the notice u/s.201(1) /201(1A) of the Act was issued on 12.03.2013 to the assessee. Reply filed. The assessee was find in default of non-deducting of TDS on bank guarantee commission to the tune of Rs. 94,19,985/- upon which TDS to the tune of Rs. 9,41,999/- was required to be deducted. Thereafter the interest u/s.201(1A) of the Act to the tune of Rs. 3,39,120/- was also assessed against the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e u/s.201(1A) of the Act. In appeal the learned CIT(A) has deleted the addition in view of the case of M/s. Kotak Securities Ltd. (Supra). It is specifically held that no TDS is payable on bank guarantee charges u/s. 194H of the Act. Therefore, the same is not liable to be deducted. Accordingly, the learned CIT(A) deleted the said addition. This issue has further came into existence in the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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