https://www.taxtmi.com/caselaws?id=180678 The Tribunal upheld the CIT (A)'s decisions regarding the applicability of section 194C (3) of the Act and the disallowance of unaccounted outstanding liability towards payments to truck/lorry owners for the assessment year 2005-06. The Tribunal concluded that the assessee was not liable to deduct tax at source under section 194C (2) and deleted the addition made under section 40(a)(ia) of the Act. Additionally, the Tribunal found that the outstanding liability was genuine, and the assessing officer failed to provide evidence to the contrary. The revenue's appeal was dismissed, and the penalty appeal under section 271(1)(c) of the Act was also dismissed. en-us Tue, 30 Nov 2010 00:00:00 +0530 Thu, 31 Mar 2016 11:29:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180678 The Tribunal upheld the CIT (A)'s decisions regarding the applicability of section 194C (3) of the Act and the disallowance of unaccounted outstanding liability towards payments to truck/lorry owners for the assessment year 2005-06. The Tribunal concluded that the assessee was not liable to deduct tax at source under section 194C (2) and deleted the addition made under section 40(a)(ia) of the Act. Additionally, the Tribunal found that the outstanding liability was genuine, and the assessing officer failed to provide evidence to the contrary. The revenue's appeal was dismissed, and the penalty appeal under section 271(1)(c) of the Act was also dismissed. Case-Laws Income Tax Tue, 30 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180678