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TMI Blog2019 (12) TMI 592X X X X Extracts X X X X X X X X Extracts X X X X ..... on made in assessment year 2009-10 and 2014-15 are in accordance with law. However, since the assessee is claiming that the producers by name Silver Screen Movies and M/s. Maragadam Pictures have deducted the tax from the respective receipts, while determining the tax payable by the assessee, the AO is directed not to call upon the assessee to pay the corresponding taxes himself to the extent on which the tax has been deducted from the income of the respective assessment year, in accordance with Section 205 of the Income Tax Act, provided, that the assessee is able to furnish the TDS certificate issued by the respective deductor, supra, to that extent. Carry forward and set-off of unabsorbed depreciation against income from other sour ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... While making the assessment for assessment year 2009-10, the AO inter-alia, noticed that the assessee claimed deduction of income at ₹ 2,21,000/- in the revised working statement of total income. The assessee stated that he has not received TDS certificate from producer Silver Screen Movies , despite close follow-up with them and hence, he has withdrawn the claim of TDS at ₹ 2,21,000/- and also reduced his professional income by ₹ 2,21,000/-. However, this claim was not considered by the AO while making the assessment. Further, relying on the decision of the Hon ble Supreme Court in the case of CIT vs. Jaipuria China Clay Mines (P) Ltd., (1966) 59 ITR 155, the assessee claimed carried forward and set-off of unabsorbed dep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2,21,000/- was not given to him. The claim pertains to a producer by name Silver Screen Movies , from whom the assessee has not received TDS certificate from them, despite his close follow-up. Therefore, he filed a revised return withdrawing the claim of TDS and he reduced his professional income. The ld.AR submitted that assessee is maintaining books of account on cash basis, ₹ 2,21,000/- though said to be deducted as tax at source by his client, since, it is not remitted to the Government account and not reflected in 26AS, it is clear that the assessee has not received the same. Further, the ld.AR submitted that the assessee claimed carried forward of unabsorbed depreciation of ₹ 7,49,226/- against the income f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 77; 5,00,000/-. M/s.Margadam Pictures has deducted ₹ 50,000/- as tax. Since, the assessee is maintaining accounts on cash basis as an actor, it is submitted that ₹ 4,50,000/- can only be taken as income which is offered to tax for this assessment year. Since, the tax deducted by M/s. Margadam Pictures is not reflected in 26AS, he pleaded that the TDS made at ₹ 50,000/- has not been received by the assessee and he has not claimed this account as deduction against the tax on his total income. Therefore, the ld.AR pleaded to allow the appeal for assessment year 2014-15. Per contra, the ld.DR supported the orders of the lower authorities. 4. We heard the rival submissions and gone through the rele ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar have to exist and continue to be used for business in following year Held, no Whether in order to avail benefit under section 32(2) it is necessary that some business must be carried on by assessee in following years and unabsorbed depreciation could be carried forward and set off against income under other heads Held, no It is seen that the ld.CIT(A) has not taken cognizance of the fact that the assessee has admitted income from business and profession at ₹ 38,32,052/-. Therefore, the assessee is entitled to set-off the brought forward loss against such income. The AO shall verify the fact of income admitted from business and profession, as indicated above, and if it is the fact, then he shall allow the brou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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