An amount can’t bear character of income just because payer deducts tax on it: Mumbai ITAT

IT : If under provision of section 4 an amount does not bear character of income and, hence, not chargeable to tax then same cannot be converted into an 'income' only because payer of sum deducts tax under misconception of law

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000187293/an-amount-can’t-bear-character-of-income-just-because-payer-deducts-tax-on-it-mumbai-itat.aspx