9911796707
TMI Blog2024 (8) TMI 980X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 17th March, 1986 relied upon assessee and case of Yagneswari General Traders [ 2024 (3) TMI 1344 - ITAT VISAKHAPATNAM] Kaccha Arahtias turnover includes only the gross commission and not the sales effected on behalf of their principals. In the present case, it is a f act that the assessee is only a licensed commission agent in Agricultural Market Committee Yard, Guntur which is formed under the rules and regulation of the Government of Andhra Pradesh. Therefore, the Circular issued by the CBDT (supra) squarely applies to the assessee and hence assessee is acted only as an agent (kaccha arahtia) and therefore it is eligible to get credit of the entire amount deducted as tax at source and there is no short fall of TDS as concluded by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by raising the following grounds of appeal: 1. The order of the Ld. CIT(A) is contrary to the facts and also the law applicable to the facts of the case. 2. The Ld. CIT(A) ought to have directed the Assessing Officer to grant credit for entire amount Rs. 75,535/- that was deducted as tax at source u/s. 194Q of the Act from the commission income and Rs. 32,008/- that was deducted as tax at source u/s. 194A of the Act from interest income. 3. The Ld. CIT(A) ought to have appreciated that the appellant is only a commission agent and therefore the CPC is not justified in applying Rule 37BA by treating the gross sale proceeds as the income of the appellant. 4. The Ld. CIT(A) ought to have appreciated that the appellant admitted gross interest o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... applied to the case of the assessee also. 4. On the other hand, Ld. Departmental Representative [DR] strongly relied on the orders of the Ld. Revenue Authorities and argued in support of the same. 5. I have heard both the sides and perused the material available on record as well the orders of the Ld. Revenue Authorities. I have also gone through the CBDT Circular No. 452, dated 17th March, 1986 (supra) relied on by the Ld. AR. Further I have perused the decision of this Tribunal in the case of Yagneswari General Traders vs. ITO (supra). For the sake of reference, the relevant paras 5 6 of the Tribunal s order dated 18/03/2024 (supra) are extracted herein below: 5. I have heard both the sides and perused the material available on record as ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
