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2014 (11) TMI 1 - AT - Income TaxLiability to deduct TDS - Disallowance u/s 40(a)(ia) – Held that:- There are conflicting judicial opinions amongst the Calcutta High Court and Gujarat High Court on one side and the Allahabad High Court on the other side - when there are conflicting judicial opinions, it is a practice to follow the view which is favourable to the assessee – as decided in COMMISSIONER OF INCOME TAX-IV Versus SIKANDARKHAN N TUNVAR [2013 (5) TMI 457 - GUJARAT HIGH COURT] - in case of omission to deduct tax even the genuine and admissible expenses are to be disallowed - But they sought to remove the rigour of the law by holding that the disallowance shall be restricted to the money which is yet to be paid – section 40(a)(ia) would cover not only to the amounts which are payable as on 31st March of a particular year but also which are payable at any time during the year. Dismissal of SLP by Supreme Court – Held that:- It is well settled principles of law that dismissal of Special Leave Petition is not the law laid down by the Apex Court - What is binding is the law laid down by the Apex Court under Article 141 of the Constitution of India - A mere dismissal by one word, the Apex Court does not lay down any law – thus, the order of the CIT(A) is upheld – Decided against assessee.
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