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2020 (9) TMI 330 - AT - Income TaxRevision u/s 263 - TDS u/s 194H - disallowance of incentive and commission for SIM cards u/s.40(a)(ia) - requirement to be Audited u/s. 44AB - HELD THAT:- If the books of account was not audited u/s.44AB of the Act in the immediately preceding financial year then this provision will not applied in the current financial year in case of individual or HUF. From the computation of income filed by the assessee the turnover of the assessee is below ₹ 60 lakhs which was not required to be audited u/s.44AB of the Act. This fact has not been examined by any of the authorities below. Therefore, the assessee has not fulfilled the first condition and therefore, he is out of the purview of Section 194H for making deduction on payments made to the retailers as a commission or discount of more than ₹ 5000/-. The assessee is an Individual. The assessee has got audited his books of account in the financial year 2011-2012 relevant to the assessment year 2012-2013, which is under dispute for making TDS. In view of the above provisions of Section 194H of the Act, the assessee is not required to make TDS. Therefore, the order passed by the AO is not erroneous and prejudicial to the interest of Revenue. - Decided in favour of assessee.
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