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TMI Blog2021 (4) TMI 408X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee was only a provision towards possible liability and the said liability may be an actual liability or a contingent liability or the provision must have been made as a result of ample precaution by the assessee. The fact that the assessee has made a provision for TDS in its accounts does not in fact decide whether the assessee is bound by the provisions of the TDS or not. As already stated, the Commissioner of Income Tax has not given any finding that the assessee has made payments in excess of the mandatory limit prescribed for TDS or the assessee has credited the accounts of the sub-contractors with commensurate amounts. Though the order passed by the Assessing Officer may be prejudicial to the interest of the Revenue, it cannot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Whether on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the Commissioner of Income Tax has not examined whether such payments was less than ₹ 20,000/- and cumulative payment was less than ₹ 50,000/- which is contrary to the material evidence filed by the assessee before the Assessing Officer? 3.The Commissioner of Income Tax, on an examination of the records of the case, found that the sub-contract payments credited was ₹ 1,45,50,000/-, whereas the sub-contract amount paid was ₹ 30,64,000/- and instead of making a disallowance of the entire sum of ₹ 1,45,50,000/- the Assessing Authority has made a disallowance of ₹ 30,64,000/- alone. The Commissioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on a technical reason. 4.It is pertinent to note that what has been credited by the assessee was only a provision towards possible liability and the said liability may be an actual liability or a contingent liability or the provision must have been made as a result of ample precaution by the assessee. The fact that the assessee has made a provision for TDS in its accounts does not in fact decide whether the assessee is bound by the provisions of the TDS or not. As already stated, the Commissioner of Income Tax has not given any finding that the assessee has made payments in excess of the mandatory limit prescribed for TDS or the assessee has credited the accounts of the sub-contractors with commensurate amounts. 5.It is pertinent to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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