Sec. 194H of Income Tax Act, 1961 — TDS —The following questions have been proposed as substantial questions of law:- Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in upholding the order of the CIT(A) and holding that the amount retained by a bank/credit card agency out of the sale consideration through credit cards is not covered under the definition of "commission or brokerage" given in the Explanation (i) to Section 194h of the Act and the assessee was not liable to deduct tax at source under Section 194h in respect of this amount?
Held that this Court vide affirming the similar findings in CIT Vs. Jet Airways (India) Ltd. held that amount retained by a bank / credit card agency out of the sale consideration of tickets booked through credit cards is not covered under the definition of 'commission' or 'brokerage' given in explanation (i) to Section 194h of the Act and in such circumstances, assessee is not liable to deduct tax at source under Section 194h in respect of this amount.[2020] 54 ITCD 075 (BOM)