2018 (2) TMI 982

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.... matter pertains to the assessment order 2008-09. 2. According to the appellant, the following substantial question of law arises:- 1. Whether upon the facts and circumstances of the case, the Hon'ble ITAT justified in law in quashing the assessment order of the Assessing Officer on the ground that A.O. has no power to review in the absence of any fresh tangible material whereas specific reasons for reopening of the case were recorded by the A.O.? 3. The Assessing Officer passed an order under section 144 read with section 147 of the Act. He held that the freight payment of about Rs. 1.88 crores from 01.04.2007 to 31.03.2008 to the truck owners without deduction of tax at source was not allowable as a business expenditure. Th....

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....n for the transaction and the balance payment was given to the truck driver after completing his job or you can say that after delivering the goods at the destination from the person to whom goods have been delivered. The assessee is the link between the firms (supplying the goods) and the truck owners. Basically, the assessee acts only as the commission agent and his nature of job is to provide the transportation services to the firms to transfer their goods safely. For example M/s Hero Cycles Ltd. wants a truck to deliver their goods from Ludhiana to West Bengal and for that they want sum truck to do the job. For which the assessee gives his bid of Rs. 25,000/- as the least fare and after finalizing the deal M/s Hero Cycles Ltd. ....