Shreyans Overseas Pvt. Ltd. Vs. ITO, Ward-8(2), Kolkata

Parties Involved

Facts Summary

The assessee, Shreyans Overseas Pvt. Ltd., is a company engaged in the business of commission agency. It filed its return of income for AY 2011-12 on 30.09.2011 showing a total income of ₹16,02,245/-. The case was selected for scrutiny through Computer Assisted Scrutiny Selection (CASS). The Assessing Officer (AO) framed the assessment u/s 143(3) of the Act on 18.02.2014. The assessment order was set aside by the Commissioner of Income Tax (CIT), Kolkata-3 vide order under section 263 of the Act dated 04/12/2015 on the issue of non-deduction of TDS on commission payments made to M/s. Suryamukhi Project Pvt. Ltd. (SPPL). Thereafter, the assessment order was passed on 28.12.2016 after making an addition of ₹33,61,400/- u/s 40(a)(ia) of the Act. Aggrieved with the assessment order, the assessee filed an appeal before the Commissioner of Income Tax (Appeals)-NFAC, Delhi (CIT(A)) who dismissed the appeal. The assessee then filed the appeal before the Tribunal.…

Legal Issues

• 1. Whether the order passed u/s 250 is bad in law as well as on facts of the case.
• 2. Whether the CIT(A) erred in law and facts by confirming the AO's disallowance of a sum of Rs.33,61,400/- paid to M/s Suryamukhi Projects Pvt. Ltd. u/s 40(a)(ia) for non-deduction of TDS.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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