Wine shop turnover made in third party account - it impact

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Suresh Chowdary (Querist)
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18 April 2018 Dear All,
It is noted in many cases that Wine shop alloted to Mr X, but regular business deposits and wine purchases made from "Y" bank account , where he is just manager or cashier of such wine shop which ultimately results in 148 notice to "Y" as he is not showing the same in his IT Returns where X shown in IT and claimed TCS as refund also. What is the impact on "Y" ?? and How X should show such transaction to IT dept.?? Pls clarify . Thank you

CA Suresh Jain

CA Suresh Jain (Expert)
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18 April 2018 Without going in to legality of this kind of working from the point of view of agreement with government for allotment of the shops, in my opinion, if there is an agreement between X and Y for assignment of license from X to Y then the notice has to be replied accordingly that as per this agreement the all sales and purchases were required to be made by Y on his account.

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