Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2018 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (3) TMI 1215 - BOMBAY HIGH COURTApplication seeking nil tax deduction certificate u/s 197 - Held that:- We find that the impugned order dated 18th December, 2017 has been passed without due application of mind. This is evident from the fact that, the petitioner's claim for nil tax deduction under Section 197 is based on it being assessed to nil tax under Section 11 of the Act and not under Section 10(23C) of the Act. Inspite of this aforesaid fact being specifically pointed out by the petitioner in its reply dated 20th November 2017 to the show cause notice, the impugned order makes no reference to the aforesaid submission and proceeds to confirm the notice dated 13th November, 2017. In the above view, the impugned order dated 18th December, 2017 is quashed and set aside. As the petitioner states that, a large amount of their receipts on which tax is deducted are received as interest on the deposits from banks. In the absence of Certificate being available before 31st March, 2018 a large quantum of amount would be deducted as tax at source by the banks. This in turn would create difficulties to the petitioner in expending 85% of its total income for the Assessment Year 2018-19. Assessing Officer is directed to dispose of the petitioner's application dated 17th October, 2017 as expeditiously as possible and in any case on/or before 28th March, 2018.
|