Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (12) TMI 1315 - AT - Income TaxDisallowance u/s 14A r.w. Rule 8D - Held that:- Disallowance u/s 14A r.w. Rule 8D to the amount of ₹ 20,58,424/- suo motu disallowed by the appellant. Addition on account of transactions listed in Annual Information Report (AIR) of the Department - Held that:- We are of the considered view that the above matter be reexamined by the AO, because he was running short of time while making the assessment u/s 143(3) on 25.02.2013. Therefore, we set aside the order of the CIT(A) on the above issue and restore the matter to the file of the AO to make a fresh order, after giving (i) the relevant documents and (ii) reasonable opportunity of being heard to the appellant. We direct the appellant to file the relevant documents/evidence before the AO. Thus the 2nd ground of appeal is allowed for statistical purposes. Credit of tax deducted at source to the appellant - Held that:- As decided in CITICORP FINANCE (INDIA) LTD VERSUS ADDL COMMISSIONER OF INCOME TAX [2013 (10) TMI 1119 - ITAT MUMBAI] the department is required to give credit for TDS once valid TDS certificate had been produced or even where the deductor had not issued TDS certificates on the basis of evidence produced by assessee regarding deduction of tax at source and on the basis of indemnity bond. We, therefore modify the order passed by CIT(A) on this point and direct the AO to proceed in the manner discussed above to give the credit of tax deducted at source to the assessee - Direct the AO to proceed in the manner discussed above to give credit of tax deducted at source to the appellant.
|