Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (10) TMI 1870 - AT - Income TaxRectification application u/s. 154 - whether subsequent amendment to the Income-tax Act, 1961 does not constitute mistake apparent from record - disallowance u/s. 40(a)(ia) on account of Contract payments - Held that:- The undisputed fact is that the assessee has not deposited the tax deducted at source within the stipulated time. It is also an undisputed fact that Finance Act, 2010 has amended the provisions of Sec. 40(a)(ia) of the Act whereby making the provision that if the tax deducted at source is deposited with the Government on or before the due date of filing the return, the same will be allowed in the year of claim. This amendment was first considered by the Tribunal Special Bench in the case of Bharati Shipyard Ltd. Vs DCIT [2011 (9) TMI 258 - ITAT MUMBAI] wherein held that amendment to Sec. 40(a)(ia) by the Finance Act 2010 is effective from 1.4.2010 and does not have retrospective effect. Subsequent to this the Hon'ble Calcutta High Court in the case of CIT Vs Virgin Creators [2011 (11) TMI 348 - CALCUTTA HIGH COURT] has held that the amendment by the Finance Act 2010 is retrospective with effect from 1.4.2005. Subsequent to this decision of the Hon'ble Calcutta High Court, the Bombay Tribunal in the case of Piyush Mehta Vs ACIT [2012 (4) TMI 349 - ITAT MUMBAI] has held that the judgement of Calcutta High Court being the only judgement of any High Court on this subject shall prevail. As decided in ACIT Vs Saurashtra Kutch Stock Exchange Ltd. [2008 (9) TMI 11 - SUPREME COURT ] an error which has to be established by a long drawn process of reasoning on points where there may conceivably be two opinions can hardly be said to be an error apparent on the face of the record. As the above discussion of the rival contentions show the alleged error in the present case is far from self evident and if it can be established, it has to be established by lengthy and complicated arguments. We do not think such an error can be cured by a writ of certiorari according to the rule governing the powers of the superior court to issue such a writ - Decided against assessee.
|