TDS Deductible on Storage Charges: Bombay HC Rules Storage Tanks not Classifiable as Land or Building [Read Order]

Bombay HC rules that storage tanks not classifiable as land or building and that TDS is deductible on storage charges
By Kalyani B. Nair - On March 4, 2024 11:02 am - 2 mins read
Bombay High Court - TDS - TDS deductible storage charges - Bombay High Court storage tanks - taxscan

The Bombay High Court ruled that storage tanks not classifiable as land or building and that TDS is deductible on storage charges. Assessee used to pay storage charges. Therefore, assessee had hired tanks of various parties and paid them storage charges. The Assessing Officer, during the course of survey action, noted that assessee had made…

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