https://www.taxtmi.com/caselaws?id=398172 ITAT MUMBAI - AT set aside the Pr. CIT's revision under s.263, holding the assessee was not liable to deduct TDS under s.194A. The Tribunal found s.44AB audit obligation applies only to business receipts; once non-business items (e.g., dividends, non-business interest, exempt partnership share) were excluded from gross receipts, the assessee's business receipts did not exceed the statutory threshold for 2013-14. Accordingly, no TDS liability arose and the revision order was quashed. en-us Thu, 03 Sep 2020 00:00:00 +0530 Fri, 22 Aug 2025 22:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398172 ITAT MUMBAI - AT set aside the Pr. CIT's revision under s.263, holding the assessee was not liable to deduct TDS under s.194A. The Tribunal found s.44AB audit obligation applies only to business receipts; once non-business items (e.g., dividends, non-business interest, exempt partnership share) were excluded from gross receipts, the assessee's business receipts did not exceed the statutory threshold for 2013-14. Accordingly, no TDS liability arose and the revision order was quashed. Case-Laws Income Tax Thu, 03 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398172