Payments to transporters with valid PAN details not attracts TDS disallowance

Advertisement Sukumar Solvent Pvt. Ltd. Vs ACIT (ITAT Kolkata)  The Income Tax Appellate Tribunal (ITAT), Kolkata Bench, has allowed the appeal of Sukumar Solvent Pvt. Ltd., a company engaged in rice bran and oil refinery, thereby significantly reducing additions made by the Assessing Officer (AO) for the Assessment Year 2011-12. The appeal was filed against the order of the Ld. CIT(A), which had sustained two key additions: Rs.53,94,245/- on account of excess stock found during a survey under Section 133A, and Rs.4,30,000/- for non-deduction of TDS on freight charges. The first part of th...