DIWAKAR LOGISTICS ,TADIPATRI vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, HYDERABAD
In the result, appeal filed by the assessee is allowed for statistical purposes
ITA 173/HYD/2020[2014-15]Status: DisposedITAT Hyderabad05 Aug 2022AY 2014-15
Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year:2014-15 M/S.Diwakar Logistics Vs. A.C.I.T Tadipatri Circle – 1 Pan:Aahfd0549E Anantapur (Appellant) (Respondent) Assessee By: Shri K.C. Devdas Revenue By: Shri T. Sunil Goutam, Dr Date Of Hearing: 02/06/2022 Date Of Pronouncement: 05/08/2022 Order Per R.K. Panda, A.M This Appeal Filed By The Assessee Is Directed Against The Order Dated 23.12.2019 Of The Learned Cit (A)-Kurnool, Relating To A.Y.2014-15. 2. Fact Of The Case, In Brief, Are That The Assessee Is A Partnership Firm Engaged In The Business Of Transportation Of Goods & Filed Its Return Of Income On 29.11.2014 Declaring Total Income Of Rs.31,90,390/-. The Case Was Selected For Scrutiny. During The Course Of Assessment Proceedings, The Assessing Officer Noted That The Assessee Has Debited Finance Charges Of Rs.2,81,642/- & Transportation Charges Paid To Others Of Rs.74,57,350/-. The Assessing Officer Asked The Assessee To Page 1 Of 8
For Appellant: Shri K.C. DevdasFor Respondent: Shri T. Sunil Goutam, DR
Section 194ASection 194CSection 37Section 40
TDS need not be made if the aggregate value of the amount does not exceed Rs.75,000/-p.a and there is no agreement between the assessee and truck owners for which provision of section 194C are not applicable. So far as the addition of Rs.10,90,400/- is concerned, he submitted that the same is for commercial expediency and therefore
