JMK ENTERPRISES PVT. LTD. ,DELHI vs. DCIT CIRCLE 13(2), DELHI
In the result, appeal of assessee is allowed
ITA 469/DEL/2022[2017-18]Status: DisposedITAT Delhi27 Mar 2023AY 2017-18
Bench: Sh. Anil Chaturvedi & Sh. Narender Kumar Choudhryjmk Enterprises Pvt. Ltd. Vs. Dcit C-3, Ground Floor, Circle – 13(2) Backside Amar Colony Delhi Market, Lajpat Nagar Delhi-110 024 Pan No. Aabcj 8796 Q (Appellant) (Respondent) Assessee By Shri Saurav Rohtagi, C.A. Revenue By Shri Anuj Garg, Sr. D.R. Date Of Hearing: 01.03.2023 Date Of Pronouncement: 27.03.2023 Order Per Anil Chaturvedi, Am: This Appeal Filed By The Assessee Is Directed Against The Order Dated 19.05.2021 Passed By The Commissioner Of Income Tax (Appeals)-Nfac, Delhi Relating To Assessment Year 2017-18. 2. Brief Facts Of The Case As Culled Out From The Material On Record Are As Under :- Jmk Enterprises Pvt. Ltd. Vs Dcit 2 3. Assessee Is A Company Stated To Be Engaged In The Business Of Jewellery Dealership & Retailing The Products. Assessee Electronically Filed Its Return Of Income For A.Y. 2017-18 On 21.06.2017 Declaring Total Income Of Rs.95,27,960/- Which Was Later Revised On 22.08.2017 With No Change In The Total Taxable Income. The Case Of The Assessee Was Selected For Scrutiny & Thereafter, Assessment Was Framed U/S 143(3) Vide Order Dated 21.11.2019 & The Total Income Was Determined At Rs.1,05,49,060/-.
Section 143(3)Section 192Section 192BSection 40
192B of the Act, the TDS is required to be deducted on payment basis. It was submitted that the assessee had deducted
TDS on the remuneration of Rs.30,00,000/- paid during the year and the balance remuneration amounting to Rs.34,03,670/- was the provision for salary which was based on the board resolution passed by the company
