ITAT Cuttack

Section 194I – TDS not deductible on transmission and wheeling charges paid by power trading companies as same in not rent

M/s. GRID-CO Limited Vs Asst. Commissioner of Income- Tax (ITAT Cuttack)

GRID-CO Limited Vs. ACIT (ITAT Cuttack)-The Tribunal observed that Circular No. 5 and Circular No. 736 had given restricted meaning to the word ‘rent’. However, in view of the decisions relied by the tax department, the word ‘rent’ is to be given a wider meaning. Accordingly, the contention of the taxpayer on this aspect was rejec...

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In case of difference between sales as per books and TDS certificate only profit element is taxable

R.R. Caryying Corpn. Vs. ACIT (ITAT Cuttack)

Cuttack bench of the Income-tax Appellate Tribunal (the Tribunal) in the case of R.R. Caryying Corpn. v. ACIT [2009] 126 TTJ 240 (Cuttack) held that only the embedded portion of the profits is to be considered as taxable and not the entire amount in the case of discrepancies between the sales or receipt amount as per books of accounts ...

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