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2020 (3) TMI 1070 - AT - Income TaxTDS u/s 195 - failure on the part of the assessee to deduct tax on payments made to foreign entities in connection with Bandwidth charges, Legal & Professional charges and Direct cost and Networking & Communication charges - AO levied tax u/s.201(1) and 201(1A) - HELD THAT:- As decided in own case [2018 (12) TMI 1805 - ITAT CHENNAI] the issue on which the Revenue has raised the levy u/s.201(1) and interest u/s.201(1A) has already been held to be not liable for deduction of TDS under the relevant provisions of the Income Tax Act, 1961. This being so, as there is no liability of the assessee to deduct TDS on the said payments, there can be liability on the assessee for the levy u/s.201(1) and consequently 201(1A) of the Income Tax Act, 1961. In the circumstances, we find no error in the order of the learned Commissioner of Income Tax, 1961 which calls for any interference. Set off of brought forward unabsorbed depreciation - HELD THAT:- As decided in own case . [2018 (12) TMI 1805 - ITAT CHENNAI] unabsorbed depreciation that was carried forward up to assessment year 2001-02 would be carried forward to assessment year 2002-03 and become part thereof and it would be governed by provisions of section 32(2) as amended by Finance Act, 2001 and would be available for carry forward and set off against profits and gains of subsequent years without any limit whatsoever. Addition u/s 14A - Since, the assessee has not earned any exempt income, in accordance with the Jurisdictional High Court decisions, supra, no disallowance can be made u/s. 14A
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