Court Rules No TDS Liability on Membership Fees u/s 195; Applies Principle of Mutuality.

TDS (withholding tax) u/s 195 - Disallowance u/s 40(a)(i) - non-deduction of tax at source on payment made towards membership/subscription fee - principle of mutuality- amount paid by a member firm to the umbrella association - the payment made by the assessee to GTIL towards membership and subscription fee is not taxable at the hands of the payee. - No TDS liability - AT .....

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