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2011 (7) TMI 796 - ITAT, AHMEDABADDisallowance u/s 40(a)(ia) - Non deposit of TDS amount before filing of return - Penalty u/s 271(1)(c) - Held that: we do not find any merit in these contentions of the assessee that since the payments made to sub-contractors has not been debited to the P & L account of the assessee, Section 40(a)(ia) is not applicable with regard to such payments to sub-contractors although the assessee itself is deducting TDS @1% from those payments made to sub-contractors. Regarding penalty - In assessment year 2003-04 and 2004-05 also, penalty was imposed by the A.O. in respect of the addition made by the A.O. on account of low G.P - Held that: addition on account of low G.P. was made by the A.O. only on estimate basis and for such addition without bringing on record any specific adverse material, penalty is not justified - Decided in favor of the assessee
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