2000 (2) TMI 43

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... deleted the penalty. Hence, the Commissioner of Income-tax has come by way of appeal. The facts giving rise to this appeal, briefly, are as follows : The assessee is a partnership firm engaged in the agency business of advertising on Doordarshan and A.I.R. During the assessment year in question, it acted as an agent between the principal, on the one hand, and the said media, on the other hand. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... of the contracts between the media like Doordarshan, on the one hand, and the customers of the assessee, on the other hand, came to the conclusion that for the purposes of audit under section 44AB, the entire amount of the total transaction cannot be treated as the receipt accruing to the assessee. The Tribunal found that the assessee was only an agent. That, the income which accrued to the asses .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X