Lakshmi Sai Traders, Guntur. Vs. Income Tax Officer, Ward-1(1), Guntur.

Parties Involved

Facts Summary

The assessee, Lakshmi Sai Traders, is a commission agent in Agricultural Market Yard Committee, Guntur. For the assessment years 2022-23 and 2023-24, the assessee filed returns declaring a total income and claimed TDS credit. The Assessing Officer granted TDS credit only to the extent of Rs. 11,172/- for AY 2022-23 and a similar order was passed for AY 2023-24. The assessee appealed against these orders, arguing that the entire TDS amount should have been credited as per the CBDT Circular No. 452, dated 17th March, 1986.…

Legal Issues

• 1. Whether the order of the Ld. CIT(A) is contrary to the facts and law applicable to the case.
• 2. Whether the Ld. CIT(A) ought to have directed the Assessing Officer to grant credit for the entire amount deducted as tax at source U/s. 194Q of the Act from the commission income.
• 3. Whether the Ld. CIT(A) ought to have appreciated that the appellant is only a commission agent and therefore the CPC is not justified in applying Rule 37BA by treating the gross sale proceeds as the income of the appellant.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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