K D Lite Developers Private ... vs Dy. Commissioner Of Income Tax, Tds ... on 27 November, 2024
The assessee has also relied upon the decision of the
Coordinate Bench of ITAT in the case of Neo Sports
Broadcast (P.) Ltd Vs. CIT (TDS), Mumbai, [2016] 69
27
ITA Nos. 5305, 5325, 5354, 5356 & 5357/MUM/2024
M/s. K D LITE DEVELOPERS PRIVATE LIMITED
taxmann.com 422 (Mumbai), wherein it was held that
"Where a holding company provided bank guarantees for
benefit of assessee, its reimbursement by assessee would
not come under purview of interest so as to make assessee
liable to TDS under Section 194A"