Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (7) TMI 644 - AT - Income TaxDisallowance under section 40(a)(ia) - late deposit of TDS into the Government account - CIT(A) deleted disallowance by holding that the relevant amendment made to section 40(a)(ia) by Finance Act, 2010 was applicable with retrospective effect - Held that:- The issue involved in this appeal of the Revenue is squarely covered in favour of the assessee by the decision of CIT vs. Virgin Creations (2011 (11) TMI 348 - CALCUTTA HIGH COURT ) as well as the various decisions of the Coordinate Benches of this Tribunal as cited on behalf of the assessee before the Ld. CIT(A) wherein it was held that the relevant amendment made to section 40(a)(ia) by the Finance Act, 2010 being retrospective in nature, no disallowance under section 40(a)(ia) can be made if the corresponding TDS amount is paid by the assessee before the due date of filing of the return of income for the relevant year. In the present case, the TDS amount was duly paid by the assessee into the Government account on 31.05.2007 and 29.10.2007 i.e., before the due date of filing of return of income for the year under consideration and this being the undisputed position, we uphold the impugned order of the Ld. CIT(A) deleting the disallowance made by the A.O. under section 40(a)(ia). - Decided against revenue.
|