2023 (3) TMI 616

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.... on 07.11.2017 returning total income at Rs..5,55,760/ and assessee is a firm and is occupied in the business of Imitation Jewellery. The return was processed u/s 143(1) of Income-tax Act, 1961 (in short "Act") on 13.12.2018 at Rs..1,21,22,007/- after making adjustment of Rs..1,15,66,247/- u/s. 143(1) sub clause (iv) of clause (a) of the Act. The Assessing Officer has disallowed 30% of commission of Rs..3,84,54,157/- and professional fees of Rs..1,00,000 u/s 40(a)(ia) for which the assessee claims exemption for non deduction of TDS under Form 26A r.w. Rule 31ACB. 3. Aggrieved with the above order assessee preferred an appeal before the Ld.CIT(A), after considering the submissions of the assessee Ld.CIT(A) after condoning the delay of 12 ....

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....und No. 2: In law and on facts and circumstances of the case, the addition of Rs. 1,15,66,247/- u/s 40(a)(ia) be set aside and quashed on merits and on the basis of Form 26A evidencing the payee having filed its return of income u/s 139, having considered the receipt of commission and professional fees in their income-tax return and paid tax due on such return of income. All the above grounds are alternative & without prejudice to each other. The appellant craves the leave to add, alter, amend, substitute, delete and modify the aforesaid ground as advised." 6. At the time of hearing, Ld. AR of the assessee submitted that assessee has not represented properly before Assessing Officer, however, filed the relevant....