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2014 (5) TMI 394 - ITAT DELHIAccrual of income – Element of income where credit of TDS has been claim on receipt basis - Distribution of incentives on behalf of KBPL – Held that:- CIT(A) was rightly of the view that the reimbursements made for the quarter ending 30-06-2007, have been reconciled with the bank account of M/s Zebaish and with the bank statement of M/s KBPL - claim of credit for the tax deducted does not make the assessee “bound” to pay tax on the receipts, unless such receipts constitute income in his hands - the assessee produced books of A/Cs about its retainer ship business; agreement and confirmation from KBPL - Its activity as a retainer-ship which includes distribution of incentives is not denied - The arrangement has not been held to be non-genuine or sham – thus, there is no infirmity in the order of the CIT(A) – Decided against Revenue.
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