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2015 (9) TMI 1696 - AT - Income TaxShort deduction of TDS - TDS u/s 194J OR 194I - disallowance u/s. 40(a)(ia) relating to VSAT and lease line payments - CIT(A) holds that only proportionate disallowance is to be made in view of the fact that the assessee had already deducted TDS - HELD THAT:- It is evident that the co-ordinate bench in assessee’s own case for assessment year 2006-07 holds that the disallowance in question cannot be made because of shortfall in TDS deduction as per hon’ble jurisdictional high court decision in CIT vs. Prayas Engineering Ltd Tax [2014 (11) TMI 1086 - GUJARAT HIGH COURT] and CIT vs. S.K. Tekriwal [2012 (12) TMI 873 - CALCUTTA HIGH COURT]. The Revenue fails to draw any distinction on facts or law. CIT(A) has erred in partially confirming the Assessing Officer’s action making the impugned disallowance of VSAT and lease line charges in question. The assessee’s arguments are accordingly accepted and that of the Revenue are rejected. Disallowance of bad debts - assessee had claimed these amounts arising from downfall/market crash in Jan, 2008 due to which wealth of investors vanished and they were not in a position to pay the same as investment in question reached to negligible value resulting in huge unpaid liabilities. - HELD THAT:- CIT(A) follows lower appellate order in preceding assessment year deciding the issue in assessee’s favour. He quotes case law of TRF Ltd. [2010 (2) TMI 211 - SUPREME COURT] and DCIT vs. Shreys Morakhia [2010 (7) TMI 455 - ITAT MUMBAI] in support. We find that the co-ordinate bench (supra) has already rejected the Revenue’s identical ground in preceding assessment year. It does not point out any exception on facts or law in the impugned assessment year. The Revenue’s corresponding ground is decided in assessee’s favour.
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