November 2020

I. Section 194H r/w/s 201(1) Discount on sale of set-top boxes and recharge coupons including festival discount and bonus points to customers cannot be considered as commission and therefore not liable for deduction of tax II. Section 36(1)(iii) Assessee had filed necessary evidence to prove availability of owned funds to cover investment made in capital WIP. Thus, interest paid on borrowed funds was to be allowed u/s 36(1)(iii)

Jagdish T. Punjabi | Prachi Parekh
Chartered Accountants | Devendra Jain

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