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2016 (2) TMI 40 - AT - Income TaxNon deduction of tds u/s 194C - payments made to the labourers. - Held that:- We find no merit in the submissions of the assessee that the provisions of section 40(a)(ia) of the Act are applicable only to the amounts which are outstanding or remaining payable at the end of every year i.e. 31st March. The Pune Bench of Tribunal has consistently taken a view that the provisions of section 40(a)(ia) of the Act are applicable to the amounts irrespective of whether the same were paid during the year or were outstanding at the close of the year. In the absence of any justification for non-deduction of TDS out of sub-contract payments and in view of admission of the assessee before the Assessing Officer, we uphold the addition - Decided against the assessee Deemed dividend u/s 2(22)(e) - Held that:- Since the assessee is not the registered shareholder of the said company, we find no merit in the aforesaid addition made in the hands of the assessee - Decided in favour of assessee Addition u/s 68 - cash credit - Held that:- The perusal of the balance sheet filed by the assessee reflects that the closing balance as on 31.03.2007 was ₹ 2,42,500/- i.e. the amount due to Durvesh Construction Co. The case of the assessee before us is limited that it had received sum of ₹ 5 lakhs from M/s. Durvesh Construction Co., out of which sum of ₹ 2,57,500/- was the loan due from the said person and the balance of ₹ 2,42,500/- was the loan outstanding at the close of the year. The assessee had admittedly, received ₹ 5 lakhs from the said person and had only shown the balance of ₹ 2,42,500/- in the balance sheet. In the above said facts and circumstances, where the assessee had advanced sum of ₹ 2,57,500/- in the preceding year to Mr. S.R. Sharma, proprietor of M/s. Durvesh Construction Co., then to the extent of said amount, loan is explained as the creditworthiness can be accepted to the extent of amount which was advanced by the assessee. However, in respect of balance of ₹ 2,42,500/-, the assessee has failed to discharge his onus i.e. to establish the creditworthiness of the person advanced the loan. Accordingly, we direct the Assessing Officer to restrict the disallowance to ₹ 2,42,500/- - Decided partly in favour of assessee. Addition being difference in receipts - Held that:- The assessee claims to have booked the balance sale consideration in subsequent assessment year. Though the assessee is making the same plea before the authorities below and even before us, but the plea of the assessee cannot be accepted in the absence of any documentary evidence being filed by the assessee. Even before us, the assessee has failed to reconcile difference in sale consideration and / or to furnish the evidence that the said amount has been offered to taxation in the succeeding year and on what basis. In the absence of the same, we find no merit in the grounds of appeal, thus confirming the addition - Decided against assessee
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