Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2012 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (11) TMI 228 - AT - Income TaxNon deduction of TDS - disallowance u/s 40(a)(ia) - Held that:- For the part amount of Rs.32,18,58,199/- TDS was deposited by the assessee in the Government account latest by 24.08.2005 which is before the due date for filing the return of income and as per the judgment of COMMISSIONER OF INCOME TAX, KOL-XI, KOL Versus VIRGIN CREATIONS (2011 (11) TMI 348 - CALCUTTA HIGH COURT) amendment in section 40(a)(ia) was held as retrospective and therefore, no disallowance is called for TDS deposited by the assessee in the government account before the due date for filing of return of income - in favour of assessee. For the rest part as decided in Merilyn Shipping & Transports Versus ACIT, Range-1, Visakhapatnam [2012 (4) TMI 290 - ITAT VISAKHAPATNAM] section 40(a)(ia) is applicable only to expenditure which is payable as on 31st March of every year and cannot be invoked to disallow the amounts which are already been paid during the previous year, without deducting tax at source – Decided in favor of assessee - confirm the disallowance of only Rs.2,30,59,781/- being the amount payable by the assessee to the creditors for labour work as on 31.03.2005 - partly in favour of assessee.
|