No TDS on Pre-paid Sim Card Sold on Discount charges u/s 40(a)(ia) if Relation between Assessee and Distributor is Principal to Principal: ITAT [Read Order]

By Namaskar Acharya - On August 13, 2023 7:00 am - 2 mins read
TDS - Pre-paid Sim Card - Discount charges - Pre-paid Sim Card Sold on Discount charges - Relation between Assessee and Distributor - Assessee - Distributor - Principal to Principal - ITAT - taxscan

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the Assessing Officer (AO) providing to treat the discount charges on prepaid SIM Card as not allowable in terms of Section 40(a)(ia) of the Income Tax Act, 1961 is not allowable since no tax was deducted on the said transaction. The Revenue appealed…

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