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2015 (6) TMI 96 - ITAT PUNETDS on provisions made at the end of the year - The assessee claimed that in number of cases, the exact payees and the amounts payable to them could not be identified before closure of books and in the absence of any identified payees, the provisions of TDS were not applicable - Held that:- adhoc provision so made was reversed in the succeeding year in which actual expenses were booked under specific heads and TDS compliance was also made - We find no merit in the orders of authorities below that the assessee had defaulted in not deducting the tax at source out of such amounts due to non-existing payees and hence, had defaulted under section 201(1) of the Act and also interest was chargeable on such demand under section 201(1A) of the Act. Also see IDBI Vs. ITO (2006 (7) TMI 248 - ITAT BOMBAY-H ). However, for part of the amount reversed, assessee failed to reconcile the balance of ₹ 14 lakhs, hence the assessee is in default for non-deduction of tax in respect of the above said balance amounts and the Assessing Officer is directed to work out the demand under section 201(1) of the Act and also charge interest under section 201(1A) of the Act. - Decided partly in favour of assesse.
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