9911796707
TMI Blog2019 (12) TMI 592X X X X Extracts X X X X X X X X Extracts X X X X ..... thyaraj, the assessee, is an actor in feature films and producer of feature films and admitted income from house property, profits and gains of business, income from other sources, agricultural income etc. While making the assessment for assessment year 2009-10, the AO inter-alia, noticed that the assessee claimed deduction of income at Rs. 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not received TDS certificate from producer "Silver Screen Movies", despite close follow-up with them and hence, he has withdrawn the claim of TDS at Rs. 2,21,000/- and also reduced his professional income by Rs. 2,21,000/-. However, this claim was not considered by the AO while making the assessment. Further, rel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h was under production. For the assessment year 2009-10, from the intimation, the assessee found that credit for the TDS claim of Rs. 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, Rs. 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 submi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee has received only Rs. 4,50,000/- as film receipts, as against Rs. 5,00,000/-. M/s.Margadam Pictures has deducted Rs. 50,000/- as tax. Since, the assessee is maintaining accounts on cash basis as an actor, it is submitted that Rs. 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 Rs. 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 s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eding year 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 Rs. 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 brought forward ..... X X X X Extracts X X X X X X X X Extracts X X X X
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