9911796707
TMI Blog2010 (5) TMI 950X X X X Extracts X X X X X X X X Extracts X X X X ..... 43(3) of the Income-tax Act, 1961. The revenue has taken two grounds in the appeal as under:- 1. "In the facts and circumstances of the case, ld. CIT(A) has erred in deleting additions made in the hands of the assessee on the protective basis, while substantive additions made in the hands of M/s PACL India Ltd., New Delhi in the assessment year 2006-07 were still pending at the first appellate stage. 2. In the facts and circumstances of the case, ld. CIT(A) has erred in directing the AO to give credit of TDS to the assessee even after holding that the amounts on which tax has been deducted at source, has actually not been received by the assessee." 2. Before us, the ld. DR submits that there are about 80 such cases as the case of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ork. e) He has not filed any return of income as he has started working only from four-five months (it means, work started in the year 2007). When shown the return of income, filed in his name, he remarked that this return has not been filed by me nor he has got it filled from anyone else. Signature on it is his and this is one of the papers signed by him on the directions of Shri Dev Raj. f) When he was asked about his proprietary concern (as per return of income) i.e., M/s Sapra Trading Company, he deposed that he has never worked with the name & style of M/s Sapra Trading Co., nor he has heard about M/s Sapra Trding C. g) When he was asked about M/s PACL India Limited, New Delhi, he deposed that he does not know anything about t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or so lending the name. In the form of bank statement it is also evident that the amount received was purported to be refunded back to PACL India Ltd. Therefore, income of the present assessees are only to the extent of receiving commission and since all these persons have offered 8% of their income, no further amount is taxable. At the same time, the ld. CIT(A) has found that the income is not assessable as business income or under section 44AD of the Act but only as income from other sources which in any case could not have exceeded the amount offered for tax. Since correct income has been offered for tax by the assessees herein, the Assessing Officer was, therefore, in error in taxing the entire sum received as income. We, therefore, do ..... X X X X Extracts X X X X X X X X Extracts X X X X
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