TDS obligation arose even if hire charges were paid through settlement of accounts without actual ca

IT/ILT: Where, assessee a tax resident of Thailand, was engaged in execution of hydroelectric-power project of NTPC as a sub-contractor of another Thailand based company ITDL, in view of fact that ITDL provided certain machinery on hire to assessee, tax was required to be deducted at source while making payment of hire charges even though said payment was not made in cash and it was merely adjusted from amount due to assessee on account of execution of contract work