Khushi Ram Chanan Ram Versus DCIT CPC Bangalore

Parties Involved

Facts Summary

Khushi Ram Chanan Ram, the assessee, filed an appeal against the appellate order passed by the Joint Commissioner of Income Tax (JCIT), Chennai dated 14.12.2023. The assessee claimed tax deduction at source of Rs.86,055/- as credit for prepaid taxes which was reduced by CPC Rs.73,160/-. The assessee argued that he is a Kucha Arhatiya carrying on the business at Hanumangarh, Rajasthan, and only took the gross commission income earned in those transactions as his income. The assessee filed return of income at Rs.NIL. The assessee also filed a rectification application on 13.03.2023, which is pending for process. The assessee preferred an appeal before the learned CIT(A) wherein the appeal of the assessee was dismissed. The assessee aggrieved has preferred this appeal, paper book containing 82 pages substantiating that assessee is Kucha Aratiya and only the commission income earned and not the amount of transaction of purchase and sale is considered as income of the assessee.…

Legal Issues

• 1. Whether the assessee is entitled to full tax credit?

Judgment Outcome

Decided in favour of Assessee.

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