M/S. R M TRADELINK,RAJKOT vs. THE PR. CIT-1, RAJKOT, RAJKOT
In the result, appeal of the assessee is allowed
ITA 68/RJT/2022[2018-19]Status: DisposedITAT Rajkot16 Sept 2022AY 2018-19
For Appellant: Shri Deepak Rindani, A.RFor Respondent: Shri Sanjeev Jain, CIT-D.R
Section 143(3)Section 206CSection 263Section 40Section 69C
206C of the Act. The AO disallowed 30% of "
2,53,99,953/- i.e." 76,86,510/- u/s. 40(a)(ia) of the Act.
4. Subsequently, Principal CIT initiated 263 proceedings on the ground that in the case of assessee, TCS was to be collected on purchases of "
2,53,99,953/- from the seller who had made sales
