M/S. BHARAT COKING COAL LIMITED,DHANBAD vs. JT. CIT, TDS,, DHANBAD

In the result, grounds of appeal raised by the assessee are allowed

Bench: Shri George Mathan & Shri Ratnesh Nandan Sahay

section 194A for deduction of TDS on interest was not applicable in the facts of the case of the assessee since only a notional/hypothetical entry of aforesaid amount of interest was made. The company was continuously running in loss and was under BIFR for declaration of sick company. M/s OIL, parent company of the appellant, has converted amount due from

M/S. BHARAT COKING COAL LIMITED,,DHANBAD vs. JCIT, TDS CIRCLE,, DHANBAD

In the result, grounds of appeal raised by the assessee are allowed