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2013 (12) TMI 5 - AT - Income TaxTax not deducted at source – applicability of provisions of section 40(a)(ia) on the amount which is due on last day of the year or amount paid during the year also - Held that:- As per amendment in Section 40 brought by the Finance Bill of 2004 - The legislature has replaced the words amounts credited or paid with the word payable in the enactment - Earlier year’s provision can be allowed in subsequent years only if TDS is deducted and deposited - The terms payable and paid are not synonymous. Word paid has been defined in Section 43(2) of the Act to mean actually paid or incurred according to the method of accounting, upon the basis of which profits and gains are computed under the head Profits and Gains of Business or Profession - This is a case of conscious omission and when the language was clear the intention of the legislature had to be gathered from language used - Section 40(a)(ia) would cover not only to the amounts which are payable as on 31th March of a particular year but also which are payable at any time during the year – Decided against assessee.
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