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2012 (10) TMI 1070 - ITAT JODHPURDeduction of tax at source (TDS) for payments made to RSAMB for the construction and repair work - Held that:- Decision of Jodhpur Bench rendered in the similar case [2011 (12) TMI 598 - ITAT JODHPUR] wherein held the funds so provided by the KUMS to Agricultural Produce Marketing Board are not refundable but are to be utilized for the specific purposes. The contribution made by KUMS to the Agricultural Produce Marketing Board is an application of income. The contracts if any are made by the Agricultural Produce Marketing Board with the parties, therefore, there is no case of any deduction of tax at source by the assessee, moreover, in the case of the trust or society registered u/s 12A of the Act, the profit is to be computed on the basis of the commercial principles. The income is not be computed under different heads. Hence the provisions of Section 40a(ia) are not applicable. - Decided in favour of assessee.
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