2010 (12) TMI 753

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....s appeal directed against the order of ld. CIT(A)- Ghaziabad dated 29.07.10 for AY 2006-07.   2. The only effective ground raised by the revenue reads as under:-   1. "That the ld. CIT(A) has erred in law by invoking provisions of sec. 40(a)(ia) of the I.T. Act, 1961 and deleting the addition of Rs.39,14,620/- in the case of assessee stating that the assessee is an individual and t....

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....e is in appeal before us.   4. Ld. DR of the revenue supported the assessment order. It was his submission that the amendment in the provisions of sec. 194C are applicable for AY 2006-07 and hence the order of the ld. CIT(A) should be reversed and was of the AO should be restored. As against this, ld. AR of the assessee supported the order of ld. CIT(A).   5. We have considered the....

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....irement of tax audit in the preceding financial year. There was no such requirement of TDS in case of payment by an individual to a contractor. Amendment in the provisions of sec. 194C requiring deduction of TDS by an individual from a payment to a contractor was inserted w.e.f. 1.6.07 as has been noted by ld. CIT(A) in para no. 3.7 of his order. For the sake of ready reference, we reproduce the p....

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....one per cent of such sum as income tax on income comprised therein:   [Provided that an individual or a Hindu undivided family, whose total sales, gross receipts or turnover from the business or profession carried on by him exceed the monetary limits specified under clause (a) or clause (b) of section 44AB during the financial year immediately preceding the financial year in which such sum....