TMI Blog2014 (4) TMI 811X X X X Extracts X X X X X X X X Extracts X X X X ..... o TDS was required to be deducted from such payment of commission because it is in relation to securities - payment of commission in relation to securities is covered by explanation (i) to section 194H and hence, TDS is not deductible – Decided against Revenue. - ITA No.66/LKW/2011 - - - Dated:- 24-10-2013 - Shri Sunil Kumar Yadav And Shri A. K. Garodia,JJ. For the Appellant : Shri Alok Mitra, D.R. For the Respondent : Shri S. K. Garg, Advocate Shri P. K. Kapoor, C.A. ORDER Per A. K. Garodia, A. M. This is a Revenue s appeal directed against the order of Learned CIT(A)-II, Kanpur dated 13/10/2010 for the assessment year 2007-2008. 2. The grounds raised by the Revenue are as under: 1. That the Ld. Commissioner o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anation - For the purposes of this section- (i) "commission or brokerage" includes any payment received or receivable, directly or indirectly, by a person acting on behalf of another person for services rendered (not being professional services) or for any services in the course of buying or selling of goods or in relation to any transaction relating to any asset, valuable article or thing, not being securities" 3. While deciding the issue in para 4.9 pages 29,30 CIT(A) held that the Factual Matrix of the aforesaid transaction is very clear if services have been rendered by M/s Tapasya Project Ltd., it is only in relation to the securities as no other services have been rendered by M/s Tapasya Project. 4. The CIT(A) has treated the se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w of the above the Hon'ble Bench may be pleased to confirm the action of the Assessing Officer. 4. As against this, the Learned A.R. of the assessee supported the order of Learned CIT(A). He also submitted that this issue is now squarely covered in favour of the assessee by three decisions of the Tribunal, which are available from page 119 to 123, 124 to 127 and 128 to 134 of the assessee s paper book details of which are as under: 1. I.T.A.T. Mumbai Bench order dated 23/02/2011 in case of ACIT-2(3), Mumbai vs. M/s S. J. Investment Agencies P. Ltd. 2. I.T.A.T. Delhi Bench order dated 07/12/2012 in the case of Income Tax Officer, Ward-36(2), New Delhi vs. Mittal Investment Co. 3. I.T.A.T. Delhi Bench order dated 30/04/2013 in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding allowability of amount u/s 40(a)(ia) of the Act, it was held by him that since the assessee has not deducted the TDS, this amount is not allowable u/s 40(a)(ia) of the Act and on this basis, he disallowed this amount. The Learned CIT(A) has deleted this disallowance on the basis that since the commission income earned by the assessee and commission expenditure incurred by the assessee were in relation to securities, as per the provision of section 194H, no TDS was required to be deducted on such expenditure and consequently, no disallowance is to be made u/s 40(a)(ia) of the Act for this amount. 5.1 In the light of the facts of the present case, as noted above, we now examine the applicability of various decisions of the Tribunal cit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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