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2015 (9) TMI 1551 - AT - Income TaxTDS u/s 194B - payments made to horse owners as “stake money” - assessee in default - Held that:- AO has applied the provisions of section 194B to the payments made to horse owners as “stake money” on the ground that by insertion of words ‘or card game and other game of any sort’ w.e.f. 1.6.2001, the horse racing income comes under the ambit of ‘other game of any sort’, we find that this issue had arisen in the case of Bangalore Turf Club Ltd. Vs. Union of India and others [2014 (12) TMI 843 - KARNATAKA HIGH COURT] has dealt with this issue at length and has held that the amended provision of section 194B do not apply to horse racing. Amendment brought about by Finance Act of 2001 to Section 2(24) and 194B would have no bearing on the income earned from 'owning and maintaining horses'. - Decided in favour of assessee Deletion of the demand raised by the AO u/s 201 (1) and 201(1A) of the Act by applying the threshold limit of ₹ 2500 on each payment for making TDS u/s 194BB - grievance of the Revenue is that the basic limit is on the aggregate payment made in a year and not on each payment - Held that:- CIT (A) had followed the order of this Tribunal in assessee’s own case for A.Ys 2002-03 to 2008-09 in granting relief to the assessee. Since the CIT (A) had followed the precedent on the issue and the Revenue has not been able to rebut this finding with any evidence or decision to the contrary, we see no reason to interfere with the same. Therefore, ground No.3 of the Revenue is also rejected. We find that in the A.Ys 2011-12 to 2013-14, the only issue is about the applicability of section 194B of the Act to the assessee. For the detailed reasoning given for the A.Y 2009-10 and 2010-11 respectively as above, the sole ground of appeal in all these years is rejected.- Decided against revenue
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