SUBHALAXMI AGENCIES PVT. LTD.,NAYAGARH vs. JCIT, RAMGE-2, BHUBANESWAR

In the result, appeal of the revenue is partly allowed and that of

Bench: S/Shri N.S Saini & Pavan Kumar Gadale

144/- to Non-banking finance company (NBFC) and also Rs.1,35,300/- to auditor as audit fees without deducting of tax at source u/s.194A and u/s.194J of the Act. In reply to show cause notice, the assessee submitted that there is no liability to deduct tax at source on payment of interest to NBFC, being a financial corporation, that nothing