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2022 (9) TMI 762 - Income Tax
Addition on account of advance from customers - Accrual of income - appellant had taken advances in cash from its customers against booking of Hero Honda motorcycles - HELD THAT:- As decided in M/S. DUTTA AUTOMOBILES PVT. LTD. [2016 (6) TMI 115 - CALCUTTA HIGH COURT] advance money, in the present case before us, is adjusted the sale price of the motor cycle and sale is disclosed in the return of income i.e. the trading account of the assessee. Accordingly, no ambiguity in the system followed by the assessee. Therefore, the issue is squarely covered by the jurisdictional High Court in the own case of the assessee. There is no merit in these grounds of the appeal of the assessee and the same are accordingly dismissed.
Addition u/s 40(a)(ia) - assessee has not deducted TDS on the payments made under the head “freights and insurance’ to various parties - amount had been debited under the head “advertisement expenses” whereas, the assessee had not deducted the TDS in respect of that payment also - HELD THAT:- As in respect of advertisement expenses the assessee furnished details before the CIT(A) to show that the TDS was duly deducted against such expenses. CIT(A) after going through the documents furnished by the assessee verified the ledger account and held that the TDS was duly deducted on the payments made and accordingly deleted the addition so made by the Assessing Officer. - Decided against revenue.