Disallowance u/s40a(ia)

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

06 November 2011 For AY 2009/10 assessee (transport contractor) Engaged truck operators owning less than 2 trucks, obtained Form15I from them but failed to file Form15J by 30-6-2009.Ao during asst proceedings wants to disallow payments to thes truck operators u/s40a(ia) saying that provisions of TDS chapter have not been complied Is he justified? Are there any caselaws to the contrary? Can form15j be filed with commmissioner now &condonation obtained?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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06 November 2011 The income of the sub-contractor owning not more than 2 trucks is not going to be taxable in the per-view of Section 44AE. As such there was no loss to the revenue.

By taking this plea -a suitable explanation can be drafted and request for allowing the expenditure may be made.

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CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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07 November 2011 pL SEE THE ITAT JUDGMENT IN VALIBHAI KHANBHAI MANKAD (AHD) (TRIB) WHICH IS IN FAVOUR

CA MANOJ GUPTA
JODHPUR
09828510543

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Querist : Anonymous

Querist : Anonymous (Querist)

08 November 2011 CAN YOU PLEASE GIVE CITATION WHERE THE CASE VALIBHAI MANKAD HAS BEEN CITED,WHICH ITR OR TAXMANN ISSUE ETC AS I DID NOT GET THE CASE LAW