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M/s Ratna Infrastructure Projects P. Ltd. Versus Deputy Commissioner of Income-Tax, Circle-15 (1) , Hyderabad

2015 (10) TMI 1875 - ITAT HYDERABAD

Failure to deduct tax at source - interest payable by the assessee under S.201(1A) - Held that:- We restore these matters to the file of the Assessing Officer for the limited purpose of allowing the assessee an opportunity to support and substantiate its case by producing the relevant documentary evidence to show that the concerned payees have already paid tax on the corresponding payments received from the assessee during all the four years under consideration. On verification of the said docum .....

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rtunity of hearing to assessee, before passing appropriate orders in these matters. - Decided partly in favour of assessee for statistical purposes. - ITA No.819 to 821 /Hyd/2014, ITA No.1723/Hyd/2014 - Dated:- 15-7-2015 - P. M. Jagtap, AM And Saktijit Dey, JM, JJ. For the Appellant : Shri Mohd Afzal For the Respondent : Shri Ramakrishna Bandi - DR ORDER Per P. M. Jagtap, Accountant Member These four appeals field by the assessee are directed against four separate orders passed by the learned Co .....

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e business of execution of civil contracts. In order to verify the compliance of TDS provisions by the assessee, a survey under S.133A was carried out in its case on 9.10.2009. As found during the course of survey, the assessee had taken loans for the purchase of machinery and vehicles under hire purchase agreements from various companies, and no tax was deducted from the interest paid on the said loans, as required by the provisions of S.194A. In this regard, the explanation offered by the asse .....

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Since no such tax was deducted at source by the assessee company, the Assessing Officer treated the assessee as in default for such TDS amounts and also charged interest in relation to such amounts for all the four years under consideration. 3. As further noted by the Assessing Officer, there was also default on the part of the assessee of non-deduction or short deduction of tax at source, as required by the provisions of S.194C, 194H, 194I and 194J of the Act. Accordingly, the assessee was trea .....

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eived from the Assessing Officer, the learned CIT(A) upheld the orders passed by the Assessing Officer under S.201(1) treating the assessee as in default for its failure to deduct tax at source from the payment of interest as required by the provisions of S.194A, except to the extent such interest was paid to some parties who had obtained exemption under S.197(1) of the Act. She also by and large upheld the orders of the Assessing Officer passed under S.201(1) treating the assessee as in default .....

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appeals challenging the action of the learned CIT(A) in upholding the orders passed by the Assessing Officer under S.201(1)/201(1A) substantially, treating it as in default for its failure to deduct tax at source, as required by the provisions of S.194A, 194C, 194I and 914J of the Act, the learned counsel for the assessee, at the time of hearing before us, has raised only one contention relying on the decision of the Hon'ble Supreme Court in the case of Hindustan Beverages Coca-Cola P. Ltd. .....

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