New User   Login      
Tax Management India .com TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2015 (9) TMI 805 - GUJARAT HIGH COURT

2015 (9) TMI 805 - GUJARAT HIGH COURT - TMI - Disallowance under section 40(a)(ia) - non deduction of tds - ITAT deleted the addition holding that the payment in question was not covered within the meaning of either Section 194(C) or Section 194(I) - whether the assessee was liable to deduct TDS while making payment to its sister concern in respect of equipments taken on lease by it from the sister concern either under section 194C or section 194I? - Held that:- Insofar as the applicability of s .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

As regards the applicability of section 194I of the Act, a perusal of the relevant statutory provisions as they stood at the relevant time reveals that section 194I did not include the words, "machinery and equipment" which were inserted only with effect from 14.7.2006. Under the circumstances, having regard to the fact that in the year under consideration the words "machinery and equipment" did not find place in section 194I of the Act, the same would not be applicable in the facts of the pre .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ferred to as "the Act") has challenged the order dated 20.3.2015 made by the Income Tax Appellate Tribunal, Rajkot Bench, Rajkot in ITA No.1006/RJT/2010 by proposing the following two questions stated to be substantial questions of law :- "(A) Whether on facts and in the circumstances of the case, ITAT is justified in law and on facts in deleting the entire addition of ₹ 45,56,000/- made on account of disallowance under section 40(a)(ia) of the Act ? (B) Whether on facts and .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

icer found that there was a default in deduction of TDS in respect of payment of ₹ 45,56,000/- made to M/s.Kiran Shipping Agency Private Limited for taking dumper, tanker, hydra, forklift etc. from it. According to the Assessing Officer, the assessee was bound to deduct TDS under section 194C of the Act on such payment but it failed to do so. He, accordingly, disallowed payment of ₹ 45,56,000/- on which no TDS was deducted under section 40(a)(ia) of the Act. The assessee carried the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

erating the findings recorded by the Assessing Officer. 4. This court has considered the submissions advanced by the learned counsel for the appellant and has perused the impugned order passed by the Tribunal as well as the orders passed by the lower authorities. 5. As can be seen from the impugned order, the Tribunal has taken note of the fact that in the present case the sister concern of the assessee had leased its idle equipments to the assessee which were utilised by the assessee and paymen .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version