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2012 (9) TMI 470 - AT - Income TaxDisallowance of expense on account of late deposit of TDS u/s 40(a)(ia) – Whether provision amended by finance act. 2010 in respect of Sec. 40(a)(ia) is applicable prospectively or retrospectively – Assessee has made the payment of TDS in the next F.Y in respect of payments made/credited before March – As per AO, assessee’s claim such expenses in the next year therefore made addition – Held that:- Following the decision of Hon’ble Calcutta High Court in case of VIRGIN CREATIONS (2011 (11) TMI 348), that amendment to the provisions of Sec.40(a)(ia) of the Act, by the Finance Act, 2010 is retrospective from 1.4.2005. Consequently, any payment of tax deducted at source during previous years relevant to and from AY 05-06 can be made to the Government on or before the due date for filing return of income u/s.139(1) of the Act. Decision in favour of assessee.
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