Assessee Is Eligible For Credit Of TCS Paid U/S 194Q If There Is No Shortfall In Payment Of TDS: Vishakhapatnam ITAT
7 months, 3 weeks ago

Assessee Is Eligible For Credit Of TCS Paid U/S 194Q If There Is No Shortfall In Payment Of TDS: Vishakhapatnam ITAT

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On finding that there is no short fall of TDS and the assessee is eligible to get credit of the entire amount, the Visakhapatnam ITAT directed the AO to grant credit of the entire amount deducted as tax at source u/s. The Bench noted that Kaccha Arahtias turnover includes only the gross commission and not the sales effected on behalf of their principals The Bench observed that the assessee is only a licensed commission agent in Agricultural Market Committee Yard, which is formed under the rules and regulations of the Government of Andhra Pradesh. Therefore, on finding that assessee is eligible for to get credit of the entire amount deducted as tax, ITAT allowed assessee's appeal. Counsel for Appellant/ Assessee: GVN Hari Counsel for Respondent/ Revenue: Dr. Aparna Villuri Case Title: Kanjula Rajagopal Reddy Firm verses ITO Case Number: I.T.A.

History of this topic

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