Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (4) TMI 1426 - AT - Income TaxAddition u/s 40(a)(ia) - delay in depositing the tds - assessee had made the payment between the period 01.04.2006 to 28.02.2007 and had also deducted TDS on this amount, however, the TDS so deducted had been deposited to the Government account on 05.04.2007 - Held that:- Amendment in section 40(a)(ia) by Finance Act, 2010 would apply retrospectivelyIn view of the above facts and judicial finding we observed that if tax deducted is deposited by assessee before due date of filing return of income, same is required to be given credit in very same assessment year. See case of Standard Buildcon [2014 (1) TMI 1488 - GUJARAT HIGH COURT] - Decided in favour of the assessee. Disallowance equivalent to 20% of amount paid in cash to the transporters u/s 40A(3) - Held that:- We find from the facts on record that the assessee has failed to establish any exceptional or unavoidable circumstances for making payment in cash instead cross cheque. The assessee is not covered by the exception provided under rule 6DD(j) of the act. The assessee has not placed any material which shows that there were any exigencies which warranted payment by non-account payee cheques. - Decided against assessee
|