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2015 (1) TMI 316 - AT - Income TaxTDS u/s 194C - reimbursement of expenses - non deduction of TDS against clearing charges paid to clearing and forwarding agent - Held that:- assessee did not deduct any TDS on the said amount. Before the Assessing Officer the assessee has not given the convincing explanation for non deduction of TDS. However, before the CIT(A), the assessee has submitted that the major part of this amount is for reimbursement of expenses incurred by the Clearing Agent regarding payment of Octori, Custom duty and other charges. We find that neither the Assessing Officer nor the CIT(A) has examined or verified the nature of actual payment made by the assessee. - matter remanded back to the Assessing Officer for proper verification regarding the nature of the payment made by the assessee and then decide the issue afresh as per law. Depreciation - Car was a business asset and depreciation was allowed in the earlier years then any loss on account of sale of the said asset has to be adjusted as per provisions of section 32 because the block of assets did not cease to exist when the assessee purchased a new car during the year. Accordingly, we set aside this issue for limited purpose for allowing the claim u/s 32 on account of loss on sale of car. As regards the loss on account of furniture, cellular phone and water filter, since the block of assets ceased to exist, therefore, the same is not allowable as per provisions of section 32. Accordingly, this ground of the assessee’s appeal is partly allowed for statistical purpose - Decided partly in favour of assessee.
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