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TMI Blog2016 (4) TMI 1344X X X X Extracts X X X X X X X X Extracts X X X X ..... 4H of the Act". Considering all we are of the opinion, the decision taken by the CIT (A) is fair and reasonable and it does not call for any interference. Accordingly, grounds raised by the Revenue are dismissed. X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee the TDS in respect of the bank changes collected by the bank for credit card services before remitting the net amount to the assessee. In this regard, it is the argument of the Ld Counsel for the assessee that the relationship between the bank and the assessee is not „principal to agent‟ but „principal to principal‟. Therefore, the provisions of section 194H of the Act are not applicable. For this proposition on the order of the Tribunal in the case of M/s. Inf ini t i Retail Limited for the AY 2009-2010 in ITA No.4461/M/2013, dated 1.5.2015 and para 2.1 of the said Tribunal‟s order is relevant in this regard. Further, Ld Counsel for the assessee also relied on the judgment of the Hon‟ble Delhi High ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n acts on behalf of another, thereby, creating a principle and agent relationship and further in the instant case, the sale is conducted by the assessee on its own and not through the bank and further the transaction may termed as credit card MSF charges but in charges, cheque book request charges, etc. The Ld AO completed the assessment disallowing the expenditure of ₹ 5,02,36,000/- incurred on account of payment of processing charges to HDFC bank on total amount swiped through customer credit card and expenditure of ₹ 49,02,000/- on account of various other bank charges (Cash Management Services) u/s 40(a)(ia) of the Act. According to the Ld AO, tax should have been deducted at source u/s 194 of the Act. On appeal, Ld CIT (A) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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