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2011 (3) TMI 708 - ITAT, NEW DELHITDS on interest u/s 194A - The assessee company has paid interest of Rs.69,64,623/- to ONGC and HUDA and no TDS was deducted - The assessee too has failed to submit the certificate u/s 197 showing for non-deduction of taxes - Certificate showing that that no TDS was deductible on the interest payment made was necessary - It was not produced before authorities below - Assessee made a simple statement in this regard without any documentary proof - Therefore,find no merits in the appeal of the assessee. As regards the assessee has claimed that the interest payment of Rs.14,17,500/- made to HUDA was on account of delayed payment for purchase of land - It is claimed as capital expenditure - It is also claimed that the interest has not been debited in the books of account as revenue expenditure - In view of this claim, we find that this fact was never raised/disclosed before the authorities below, therefore, these facts require verification - Thus, the issue in respect of the interest to the HUDA of Rs.14,17,500/- to the file of the Assessing Officer to decide the same afresh after providing an opportunity of being heard.
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