Amendment brought to cast TDS liability on individuals and HUF u/s. 194C do not applies to AY 2007-08

Shri Prashant H Shah Vs ACIT (Ahmedabad ITAT)- It is further important to mention that vide an amendment with effect from 1/6/2007 an individual or HUF have also been inducted vide sub-clause (k) in section 194C(1) of the IT Act. At this juncture, it is worth to hold that as far as the AY in hand is concerned, i.e. AY 2007-08, this latest amendment of section 194C(1)(k) of the Act being introduced with effect from 01/06/2007 has no applicability. We therefore hold that if the Revenue Department had made an endeavour to invoke the provisions of section 40(a)(ia) for the infringement of the pro...