Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2012 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (11) TMI 8 - AT - Income TaxDisallowance under sec. 40(a)(ia) of the Act - credit for TDS is to be given in the case of the person in whose hands income is taxable and that too in the year in which the corresponding income is taxed - assessee entered into a consortium agreement with 12 other members who are travel agents for booking air tickets through the platform provided by M/s Amadeus Pvt. Ltd. – Held that:- Assessee did not claim the said amount as expenditure in its accounts, no tax was deducted at source by the assessee - no disallowance could be made in terms of provisions of sec. 40(a)(ia) of the Act - income accrues when the assessee acquires the right to receive the same. The terms of the consortium agreement do not reveal any such right in favour of the assessee - Since the assessee only distributed the income in terms of the agreement and this did not amount to incurring of an expenditure nor the assessee claimed any - disallowance deleted
|