Section 194J TDS not applicable to payment made in kind

Brief facts are, during the assessment proceedings, the Assessing Officer verifying the information / details available on record, found that the assessee has debited an amount of Rs. 52,58,118 towards expenditure on gift. On a query raised by the Assessing Officer it was explained by the assessee that it had given gift of certain items to its business associates who had worked for the film “Billu Barber”. Furnishing the details of gift, it was submitted by the assessee that they are in the nature of perquisites to the concerned persons towar

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