{"id":49781,"date":"2025-01-12T17:31:10","date_gmt":"2025-01-12T12:01:10","guid":{"rendered":"https:\/\/itatonline.org\/digest\/aay-kay-manufacturing-co-v-ito-2024-207-itd-254-amritsar-trib\/"},"modified":"2025-01-12T17:31:10","modified_gmt":"2025-01-12T12:01:10","slug":"aay-kay-manufacturing-co-v-ito-2024-207-itd-254-amritsar-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/aay-kay-manufacturing-co-v-ito-2024-207-itd-254-amritsar-trib\/","title":{"rendered":"Aay Kay Manufacturing Co. v. ITO (2024) 207 ITD 254 (Amritsar) (Trib.)"},"content":{"rendered":"<p>TCS collected is recorded through journal entries and held by assessee as custodian of Government and same is\u00a0 duly reflected as liability in audited balance sheet as at 31\/03\/2022. The AO disallowed under S.43B of the Act. CIT(A) affirmed the order of the AO. On appeal the Tribunal held that\u00a0\u00a0 since\u00a0 amount of income tax\u00a0 of buyers could not be debited in profit and loss account and claimed as a deduction by assessee, it is\u00a0 not hit by provisions of section 43B and addition made to income is\u00a0 deleted. (AY.2022-23)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 43B : Deductions on actual payment-TCS on sales of scrap-Not claimed as deduction-Journal entries-Addition is deleted. [S. 206C]  <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-49781","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-cWV","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=49781"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49781\/revisions"}],"predecessor-version":[{"id":49782,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49781\/revisions\/49782"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=49781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=49781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=49781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}