TMI Blog2020 (11) TMI 862X X X X Extracts X X X X X X X X Extracts X X X X ..... ascertainable and determinable value, which can be taken as part of the consideration paid for the work done. It is the nature of the contract, term of the agreement, the intention of the parties and overall facts and circumstances of the case which are required to be analyzed and considered for determining whether the provisions of section 194C or other similar provisions of the Chapter would be attracted or not in a particular case. As discussed above in detail, since we have held that the property in the by-product was not passed on by the assessee / Procurement Agencies as milling charges, hence, it is held that TDS provisions of section 194C are not attracted in this case. This issue is decided in favour of the assessee - ITA NO. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... material in lieu of payments and the TDS has been deducted by the assessee on the cash part. (iii) Whether on the facts and circumstances of the case, the Ld. CIT(A) has erred in law by ignoring the fact that the provisions of section 194C are applicable on payment of any sum which should include both cash and cash equivalent. (iv) Whether on the facts and circumstances of the case, the Ld. CIT(A) has erred in law while wrongly relying on the decision of Hon'ble ITAT, Division Bench 'A', Chandigarh in ITA Nos. 1309 1310/CHD, ITA No.1312 1313/CHD/2016, ITA No 1314/CHD/2016 dated 30.10.2018 in which judgment of Hon'ble Supreme Court in the case of M/s Kanchanganga Sea Foods Ltd vs. Commissioner of Income Tax was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h A in ITA No. 1314/Chd/2016 for the A.Y. 2014-15 in the assessee's own case wherein the issue has been decided in favour of the assessee vide para 22 23 of the order, copy of the said order dated 30/10/2018 was furnished which is placed on record. 5. In his rival submissions the Ld. DR although supported the orders of the A.O. but could not controvert the aforesaid contention of the Ld. Counsel for the assessee. In his rejoinder the Ld. Counsel for the Assessee further submitted that the Ld. CIT(A) already decided the issue in favour of the assessee by considering the aforesaid referred to order dt. 30/10/2018 passed by the ITAT Chandigarh Bench A in assessee's own case for the A.Y. 2014-15. 6. We have considered the su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ious metal or anything else having almost equal monetary value at which the price was settled, to say that the provisions of section 194 will not be attracted in that case, will be against the spirit, intent and purpose of section 194C of the Act and such an interpretation will defeat the real intent and purpose of the provisions. Another important factor to be taken into consideration is that the assessee must be the owner / should have the authority to pass on the consideration 'in kind' to the contractor. As discussed above, in this case, the property in the byproducts comes into ownership of the millers from the very point of coming of it into existence, hence, in this case the assessees were not the owners of the by-products. A ..... X X X X Extracts X X X X X X X X Extracts X X X X
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