https://www.taxtmi.com/caselaws?id=403954 The ITAT partially allowed the appeal, deleting the additions made by the Assessing Officer in both issues. Regarding the disallowance of making charges under section 40(a)(ia) of the Income Tax Act, the ITAT ruled in favor of the assessee, finding the payments to goldsmiths were below the threshold for TDS. Additionally, the ITAT accepted the explanation for the difference in purchases reported in VAT returns and books of accounts, attributing it to exempted purchases. As a result, the ITAT overturned the CIT(A)'s decision and deleted the additions, providing relief to the assessee. en-us Wed, 23 Dec 2020 00:00:00 +0530 Fri, 12 Feb 2021 12:01:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403954 The ITAT partially allowed the appeal, deleting the additions made by the Assessing Officer in both issues. Regarding the disallowance of making charges under section 40(a)(ia) of the Income Tax Act, the ITAT ruled in favor of the assessee, finding the payments to goldsmiths were below the threshold for TDS. Additionally, the ITAT accepted the explanation for the difference in purchases reported in VAT returns and books of accounts, attributing it to exempted purchases. As a result, the ITAT overturned the CIT(A)'s decision and deleted the additions, providing relief to the assessee. Case-Laws Income Tax Wed, 23 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403954