Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2022 (6) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (6) TMI 85 - HC - Income TaxDisallowance u/s. 40(a)(ia) of the Act for non-deposit of TDS - Tribunal has observed that the Respondent had duly deposited the Tax Deducted at Source (TDS) with the Government by the due date for filing the return of income - HELD THAT:- The said finding of the Tribunal returned after perusing the documents furnished by the Respondent cannot be disputed in the present appeal. Learned counsel for the Appellant has not brought on record any material to dislodge the said finding of fact returned by the Tribunal. Since the deposit of TDS was made within the time permitted, the Tribunal is right in holding that the said expense incurred by the Respondent cannot be disallowed. In this regard, findings of the Tribunal are in conformity with the judgment of the Supreme Court in the case of Commissioner of Income Tax v. Calcutta Export Company [2018 (5) TMI 356 - SUPREME COURT] - The finding of the Tribunal is, therefore, correct in law and no substantial question of law with respect to Section 40(a)(ia) of the Act, arises Disallowance u/s 14A read with Rule 8D(2)(iii) - HELD THAT:- Tribunal has considered that the Respondent was holding the shares as a stock-in-trade and has, therefore, disallowed the addition made by the JAO. Learned counsel for the Appellant has not disputed the fact that the shares are held as stock-in-trade by the Respondent. In the aforesaid view of the matter, the questions of law proposed by the Appellant do not arise for consideration either in fact or in law.
|