9911796707
TMI Blog2024 (10) TMI 750X X X X Extracts X X X X X X X X Extracts X X X X ..... ave been recorded as such are not liable to be disturbed. It is also to be noticed that initially the appeal was dismissed on 18.07.2018 on the ground that the it is covered by the circular No.03/2018 dated 11.07.2018 and in view of low tax effect. Revenue thereafter, filed the application and got the appeal restored on 27.09.2019, claiming that the case would fall under the exceptions in para No.10 of the Circular No.3/2018 dated 11.07.2018. The matter is again been heard on merits. Keeping in view the above discussions, we are of the considered opinion that the view which has been taken by the Tribunal is a plausible view in view of provisions of Section 40(a)(ia) of the Act being a subject matter of debate as such regarding the deduction ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g debatable, recourse to rectification under Section 154 of the Act to change the opinion, could not be undertaken. [3]. It is not disputed that the tax effect in the present appeal is only of Rs. 22,73,715/- and that was the amount which was demanded by way of order of the Income Tax Officer by passing the rectification order and raising the said demand. The same was on account of the fact that while noticing the return, the assessment which had been framed on 22.05.2008 under Section 143(3) of the Act at an income of Rs. 3,43,790/-, the records had shown that the assessee had claimed an amount of Rs. 47,81,505/- in the profit and loss account on account of labour charges. The Assessing Officer thus had come to the conclusion that no TDS h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was dismissed on 18.07.2018 on the ground that the it is covered by the circular No.03/2018 dated 11.07.2018 and in view of low tax effect. Revenue thereafter, filed the application and got the appeal restored on 27.09.2019, claiming that the case would fall under the exceptions in para No.10 of the Circular No.3/2018 dated 11.07.2018. [7]. In such circumstances, the matter is again been heard on merits. Keeping in view the above discussions, we are of the considered opinion that the view which has been taken by the Tribunal is a plausible view in view of provisions of Section 40(a)(ia) of the Act being a subject matter of debate as such regarding the deduction. In such circumstances, the attempt made by the revenue to submit that the subst ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
