2015 (2) TMI 1231

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... ORDER Vivek Varma (Judicial Member) The appeal is filed by the assessee against the order of CIT(A)-23, Mumbai, dated 15.12.2010, wherein the solitary issue pertains to disallowance made u/s 40(a)(i). 2. The assessee is a builder engaged in the development and construction of residential and commercial projects, through the Project Manager, M/s Godrej Properties Ltd. In 1998, the assesse....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ave be treated in accordance with the provisions of section 194C. Since no tax has been deducted at source, the AO disallowed Rs. 1,81,29,209/-. 6. Against this finding of the AO, the assessee approached the CIT(A) and submitted that in the relevant provision, as relied upon by the AO, does not include the payment made by the individual. The CIT(A) considering this submissions of the AR held, ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rried on by him exceed the monetary limit is specified under section 44 AB, such individual or HUF is liable to deduct income tax under section 194C. The appellant's turnover/gross receipts/total sate, admittedly exceeds Rs. 40 lakhs and the appellant has in fact submitted Tax Audit Report under section 44AB of the I.T. Act. In view of thi5 position, the action of the Assessing Officer in maki....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f the revenue authorities. 12. We have heard the arguments and have considered the orders of the revenue authorities. Clearly, the revenue authorities fell in error in interpreting the relevant provision of the Act, i.e. the provision on which the authorities lay their case pertained to clause (k), which in the relevant assessment year was not in the statute, which came in only via the Finance ....