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2015 (4) TMI 84 - AT - Income TaxDeduction u/s 40(a)(ia) of the Income-tax Act, 1961 - Non deposit of TDS for previous months - Held that:- Calcutta High Court in the case of CIT v. Virgin Creations in [2011 (11) TMI 348 - CALCUTTA HIGH COURT] has held that the relevant amendment brought into the statute is retrospective and therefore, all such payments of TDS made before due date of filing of the return would be outside the purview of applicability of sec.40(a)(ia). Even though, the Tribunal, Mumbai Special Bench in the case of Bharti Shipyard Ltd. v. DCIT (2011 (9) TMI 258 - ITAT MUMBAI ) had held against the assessee on this issue, the decision of the Hon’ble Calcutta High Court is in favour of the assessee. Therefore, we have to follow the judgment of the Hon’ble Calcutta High Court rather than the decision of the Tribunal, Mumbai Special Bench. Accordingly, we hold that the Commissioner of Incometax( Appeals) is justified in deleting the disallowance made by the Assessing Officer under sec.40(a)(ia). - Decided against Revenue.
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