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In the result, the appeal of the assessee is allowed
Bench: Shri Vijay Pal Raoassessment Year: 2010-11 M.K. Agrawal & Co., V. Acit, Range-Ii, Mirzapur Sonebhadra
3. The ld. AR of the assessee has submitted that the financial charges paid by the assessee in respect of hire purchase agreement do not fall under the ambit of section 194A of the Act for the purpose of TDS. He has further contended that the assessee has paid financial charges to M/s Tata Capital Ltd. (an NBFC) and therefore