9911796707
TMI Blog2024 (9) TMI 1745X X X X Extracts X X X X X X X X Extracts X X X X ..... ting provisions of Rule 37BA of Income Tax Rules and dismissing Grounds of Appeals raised before CIT (Appeals) and the same is bad in law. 2) That the Appellant had claimed Tax Deducted at Source of Rs. 86,694/- in Income Tax Return filed as reflecting in Form 26AS of the Appellant and duly complying with Income Tax Act provisions relating to claim of TDS. Learned Commissioner of Income Tax (Appeals) has grossly erred in sustaining the Assessing Officer's Order of granting TDS credit of Rs. 38,178/-only while processing of return U/s 143(1) by applying provisions of Rule 37BA of Income Tax Rules as against TDS claim of Rs. 86,694/- 3) That the grant of credit of Tax Deducted at source of Rs. 38,178/- as against claim of Rs. 86,694 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... atia and earns income by way of commission/brokerage which is offered to tax. Therefore, the TDS deducted u/s. 1940 has to be granted and there is no reason for denial of the same. 4.3 According to the Appellant, the turnover is restricted to the extent of Commission/brokerage earned and not the turnover of goods, as per Circular no.452 [F.No.201/3/85-IT (A:II) dated 17/09/1986]. In order to obtain better clarification and proof that the Appellant had offered the income in its true and correct manner, a notice u/s.250 was issued on 23/10/2023 requiring the Appellant to respond on or before 07/11/2023. For easier comprehension, the contents of the said notice is captured and provided below: Counter Arguments and grant of opportunity to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n your case in intimation of 143(1) of IT act as sales turnover pertaining to business as commission agent and prove that corresponding Commission income is reflected in ITR and (b) sales turnover pertaining to business as wholesale trader and prove that this turnover is reflected in your P and L submitted. 4.4 In response to the above notice, the Appellant provided his elaborate submission on 07/11/2023. The appeal is adjudicated on the merits of the case based on the submission provided by the Appellant and the contents of the grounds of appeal and the statement of facts submitted alongwith form no.35. 4.5 The contention that the Appellant is only a commission agent is accepted. The ITR should exhibit a feature that the balance due ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Counsel for the assessee apart from submitting on the merit, also contended that the CPC has no power to deny the TDS Credit as per section 143(1) of the Act, therefore, sought for allowing the appeal. 6. The Ld. DR relying on the orders of the lower authorities, sought for dismissal of the appeal. 7. We have heard the parties and perused the material available on record. The assessee is engaged to the business of 'Kachha Arhatiya' (commission agent) wherein assessee purchases goods from various vendors/parties and sells the same in the market to interested purchases for an agreed commission which is the business of the assessee. The said business of the assessee is nature to agent not as principal purchases for the seller. The CPC grant ..... X X X X Extracts X X X X X X X X Extracts X X X X
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