YAGNESWARI GENERAL TRADERS,GUNTUR vs. THE INCOME TAX OFFICER, WARD-1(1), GUNTUR

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ITA 39/VIZ/2024Status: DisposedITAT Visakhapatnam18 March 2024AY 2022-23Bench: SHRI DUVVURU RL REDDY, HON’BLE (Judicial Member)6 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that as the assessee is a 'kaccha arahtia' (commission agent), only the gross commission is to be considered as turnover, not the sales effected on behalf of principals. Therefore, the assessee is eligible for the entire TDS credit.

What were the facts?

The assessee, a commission agent, claimed TDS credit of Rs. 2,62,240/- for AY 2022-23, but the AO granted credit for only Rs. 88,381/-. The CIT(A) partly allowed the appeal for statistical purposes.

What were the issues?

Whether the entire TDS deducted under Section 194Q on commission income should be granted credit to a commission agent, considering CBDT Circular No. 452/1986.

Which sections of the Income-tax Act were involved?

Section 143(1),Section 194Q

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM

Before: SHRI DUVVURU RL REDDY, HON’BLE

For Respondent: Dr. Aparna Villuri, Sr. AR
Hearing: 12/03/2024

आदेश की प्रतिलिपि अग्रेपिि/Copy of the order forwarded to:-

1. 1. निर्धाररती/ The Assessee– Yagneswari General Traders, D.No. 12-27-123, Seelamvari Street, Kothapeta, Guntur, Andhra Pradesh – 522002. 2. रधजस्व/The Revenue – Income Tax Officer, Ward-1(1) O/o. ITO, CR Buildings, Kannavari Thota, Guntur, Andhra Pradesh – 522001.

3. The Principal Commissioner of Income Tax,

6 4.आयकर आयुक्त (अपील)/ The Commissioner of Income Tax (Appeals), 5. ववभधगीय प्रनतनिधर्, आयकर अपीलीय अधर्करण, ववशधखधपटणम/ DR, ITAT, Visakhapatnam 6.गधर्ा फ़धईल / Guard file आदेशधिुसधर / BY ORDER

Sr. Private Secretary ITAT, Visakhapatnam

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