https://www.taxtmi.com/caselaws?id=448514 ITAT Mumbai upheld PCIT's revision order u/s 263 against a private limited company operating an online gaming platform. The case involved TDS u/s 194B on payments to players for winnings from games. PCIT alleged AO failed to examine whether proper TDS was deducted from winning amounts exceeding Rs. 10,000. ITAT found AO's assessment order lacked evidence of verification of assessee's submissions regarding TDS compliance under section 194B. The tribunal agreed the assessment was erroneous and prejudicial to revenue interests, requiring proper enquiry into TDS deduction on gaming winnings. en-us Wed, 17 Jan 2024 00:00:00 +0530 Tue, 26 Nov 2024 16:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448514 ITAT Mumbai upheld PCIT's revision order u/s 263 against a private limited company operating an online gaming platform. The case involved TDS u/s 194B on payments to players for winnings from games. PCIT alleged AO failed to examine whether proper TDS was deducted from winning amounts exceeding Rs. 10,000. ITAT found AO's assessment order lacked evidence of verification of assessee's submissions regarding TDS compliance under section 194B. The tribunal agreed the assessment was erroneous and prejudicial to revenue interests, requiring proper enquiry into TDS deduction on gaming winnings. Case-Laws Income Tax Wed, 17 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448514