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2019 (1) TMI 547 - HC - Income TaxTDS u/s 194C - disallowance u/s 40(a)(ia) - requirement of statutory audit in case of the assessee - Held that:- The Tribunal noted that the statutory provisions contained sub-Section 1 and 2 of Section 194(c) prevailing at the relevant time excluded the individuals and Hindu Undivided Families from the requirement of deducting tax at source as long as their turnover did not exceed the limit for statutory audit. On facts, it has been held that assessee would have been qualified for exclusion clause and therefore the requirement of deducting tax at source could not be applied. No error in the view of the Tribunal. The finding of the Tribunal that the Assessee’s turn over for the previous year did not exceed the statutory threshold is a finding of fact, not shown to be erroneous. The statutory provisions contained in Section 194 (c) of the Act applicable at the relevant time specifically excluded the requirement of deducting tax at source by the individual or HUF payees if during the previous year their turnover did not exceed the limit requiring them to be subjected to compulsory audit - decided against revenue.
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