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TMI Blog2013 (12) TMI 900X X X X Extracts X X X X X X X X Extracts X X X X ..... rs are deducting tax at source on the payments of subscription made to assessee - The assessee is remitting the gross amount to M/s. Sun TV Network Ltd., the assessee is entitled to receive credit of the tax deducted at source u/s. 199 of the Act subject to production of TDS Certificates received from respective deductors - Decided in favour of assessee. - I.T.A. No. 844/Mds/2011 - - - Dated:- 21-10-2013 - Dr. O. K. Narayanan And Shri Vikas Awasthy,JJ. For the Appellant : Shri N. Devnathan, Advocate Shri K. Ramkrishnan, C.A. For the Respondent : Shri T. N. Betgeri, JCIT ORDER Per Vikas Awasthy, Judicial Member: The appeal has been filed by the assessee against the order of the Commissioner of Income Tax, Chennai-I date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he amount to Sun TV Network Ltd., and also the applicability of Section 40(a)(ia) when the amount was paid to Sun TV Network Ltd., III. As per schedule 24 filed by you (Details of TDS deducted) deductors include Salem Ctn. Pvt. Ltd., Satellite Communication Ltd., Matunga Communications Pvt. Ltd., United Mysore Network Pvt. Ltd., etc. Receipts from these parties were shown as '194 Contract'. The entire amount of Rs. 2.69 crores has been received through contract for which the TDS of Rs. 6,50,910/- has been claimed by you. The same ought to have been brought in you're your Profit and Loss Account. IV. As per provisions of Sec. 199(2) credit for TDS can be allowed only when the corresponding income is offered for taxation in the year in wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g amount to the assessee. The subscription collected by the assessee is not its income and hence is not taxable in the hands of the assessee. The assessee is only a nodal agency for collecting subscription on behalf of M/s. Sun TV Network Ltd. The amounts collected by the assessee are credited to the separate account 'Subscription Charges'. The said account is debited at the end of Financial Year when the amounts are paid to M/s. Sun TV Network Ltd. As the subscription collected by the assessee from various cable operators is not the income of the assessee, the same is not shown in Profit Loss account. The subscription amount is the income of M/s. Sun TV Network Ltd. and as such is taxable in the hands of M/s. Sun TV Network Ltd. However, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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