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2016 (1) TMI 1347 - ITAT PUNEDisallowance u/s 40(a)(ia) - non-deduction of tax at source (TDS) on interest paid on borrowings from India Bulls Finance Ltd., a non-banking finance company (NBFC)- as per assessee has as per amendment made by Finance Act, 2012, w.e.f. 01.04.2013 the assessee ought not to be treated in default when the payee has discharged the tax liability on its corresponding income - Held that:- We find that the Co-ordinate Bench of the Tribunal on the identical point has decided the issue in favour of the assessee in the case of The Beed District Central Co-op. Bank Ltd. vs. ACIT [2015 (12) TMI 1747 - ITAT PUNE] wherein restored the matter back to the file of the Assessing Officer who shall consider the plea of the assessee based on the second proviso to section 40(a)(ia) of the Act inserted by the Finance Act w.e.f. 01.04.2013. Following the parity of reasoning, we deem it fit and proper to restore the matter back to the file of Assessing Officer, who shall consider the plea of the assessee based on the provisions of the Act inserted by the Finance Act, 2012 w.e.f. 01.04.2013 - Decided in favour of assessee for statistical purposes
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