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2013 (2) TMI 12 - AT - Income TaxAdmission of additional evidences - Principles of natural justice – Method of accounting - Revenue opposed the said admission and mentioned that these papers were actually available with the assessee at the relevant point of time but the same were not filed for the reasons better known to the assessee - Assessee follows the ‘mercantile system of accounting’ – In audit report u/s 44AB assessee follows the ‘cash system of accounting’ - whether the assessee follows mercantile system of accounting or not and whether the assessee received the services from Shri Dharmesh Sheth to become for such payments – Held that:- By considering the ‘principles of natural justice’ for verifying the genuineness of these documents as well as the contents mentioned therein, these documents must be remanded to the files of AO for examination and their use in deciding the relevant issues raised – In favour of assessee Disallowance u/s 40(a)(ia) – TDS - Amounts “payable” and to the sums already “paid” during the financial year - Held that:- Following the decision in case of Merilyn Shipping & Transports (2012 (4) TMI 290 - ITAT VISAKHAPATNAM) that payments if made by the assessee before the end of the Financial Year, the same should not be disallowed invoking the provisions of section 40(a)(ia) of the Act merely for want of not making of TDS – In favour of assessee
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