TMI Blog2019 (2) TMI 1355X X X X Extracts X X X X X X X X Extracts X X X X ..... #8377; 20,970/- on which the TDS of ₹ 2,098 was deducted U/s 194H of the Act is actually representing. Accordingly we direct the Assessing Officer to verify the correctness of the details and the nature of the alleged receipts. Receipts from the TVS motors on which the TDS u/s 194A is deducted - HELD THAT:- We find that if the interest if any was became due and payable by the said company to the assessee then it would be an income of the assessee as it was credited only during the year under consideration. However, the actual receipt of the said income or whether the said amount of ₹ 5,548/- is actually payable to the assessee by the TVS motors or not is to be verified from the other party. Hence, the Assessing Officer is directed to verify whether the said amount was payable by the said company to the assessee or actually paid during the year under consideration or not and then consider the same after giving an opportunity of hearing to the assessee. Receipt as rent from Worldwide Machinery Solution Pvt. Ltd - HELD THAT:- We find that the assessee has already shown an interest income of ₹ 1,43,400/- from Worldwide Machinery Solution Pvt. Ltd., therefore, a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment proceedings, the Assessing Officer noted that there was an amount of ₹ 9,504/- of undisclosed TDS which was not shown in the income tax return. The said TDS is with respect to an income of ₹ 1,29,074/-. The Assessing Officer asked the assessee to explain the justification of the same alongwith necessary documentary evidence. The Assessing Officer has observed that since the assessee has failed to furnish any justification, accordingly, the receipt of ₹ 1,29,074/- as revealed by 26AS was treated as undisclosed income of the assessee. The assessee challenged the action of the Assessing Officer before the ld. CIT(A) but could not succeed. 3. Before us, the ld AR of the assessee has submitted that the assessee has reconciled the difference of 26AS with its return of income, however, the ld. CIT(A) has confirmed the addition made by the Assessing Officer. He has referred to the explanation of the assessee furnished before the ld. CIT(A) which is reproduced at para 7 of the impugned order and submitted that this amount of ₹ 9,504/- shown in the 26AS as TDS in respect of alleged income of ₹ 1,29,074/- was not part of 26AS at the time of filing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evident from the copy of ledger account of TVS Motors in the books of assessee (PB 19-20). Hence, no addition for such difference can be made. (c) In case of Worldwide Machinery Solution Pvt. Ltd., the assessee has declared interest income of ₹ 1,43,400/- (PB 14 21) whereas in Form No.26AS downloaded on 18.08.2015 (PB 5-6) no income from M/s Worldwide Machinery Solution Pvt. Ltd. is reflected but in Form No.26AS downloaded on 21.11.2017 (PB 9) such amount is reflecting at ₹ 60,000/- as against ₹ 1,43,400/- declared by the assessee in the income. Thus, assessee has already included higher income than that reflected in Form No.26AS, hence, the amount of ₹ 60,000/- cannot be again included in the income. (d) Assessee was having a workshop for servicing of Honda vehicles and whenever some spare parts etc. are required on urgent basis it was purchased from M/s Raj Motors. The fact of purchase of spare parts from Raj Motors is evident from copy if his ledger account placed at PB 22-28. In the Form No.26AS downloaded on 18.08.2015, the name of Raj Motors is not appearing but in Form No.26AS downloaded on 21.11.2017 (PB 8), the name is appearing according to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me Section under which deduction made Capital First Ltd. ₹ 2,098/- ₹ 20,970/- 194H TVS Motors ₹ 555/- ₹ 5,548/- 194A Worldwide Machinery Solution Pvt. Ltd. ₹ 6,000/- ₹ 60,000/- 194A Raj Motors ₹ 851/- ₹ 42,556/- 194C We find that as per 26AS downloaded by the assessee on 18/8/2015 at page Nos. 5 and 6 of the paper book, these entries were not reflected. However, 26AS as updated on 21/11/2017 the receipts in respect of these four parties referred above are reflected, therefore, it is clear that these receipts were shown in the 26AS, subsequently as the deductors have updated the TDS details. As regards the Capital First Ltd., the payment of ₹ 20,790/-, it was a TDS deducted U/s 194H of ₹ 2,098/-, the ld AR has explained that though in the subsequent Form No. 26AS, this additional amount was shown whereas the assessee has not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erest if any was became due and payable by the said company to the assessee then it would be an income of the assessee as it was credited only during the year under consideration. However, the actual receipt of the said income or whether the said amount of ₹ 5,548/- is actually payable to the assessee by the TVS motors or not is to be verified from the other party. Hence, the Assessing Officer is directed to verify whether the said amount was payable by the said company to the assessee or actually paid during the year under consideration or not and then consider the same after giving an opportunity of hearing to the assessee. 5.2 As regards the receipt of ₹ 60,000/- as rent from Worldwide Machinery Solution Pvt. Ltd., we find that the assessee has already shown an interest income of ₹ 1,43,400/- from Worldwide Machinery Solution Pvt. Ltd., therefore, a lessor amount shown in the Form No. 26AS would not lead to the conclusion that this is an additional income of the assessee when the assessee has already declared the interest income from the same party. Accordingly, we delete the addition of ₹ 60,000/- made by the Assessing Officer. 5.3 The another amou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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