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M/s Deccan Grameena Bank (Presently Telangana Grameena Bank) Versus Income Tax Officer Ward-9 (4) , Hyderabad

2016 (3) TMI 827 - ITAT HYDERABAD

Tds u/s 194A - non deduction of tds on interest on deposits - revision u/s 263 - Held that:- the direction of the Ld. CIT to re-do the assessment is due to non-submission of the requisite details by the assessee before him. Under section 263 of the A .....

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ot made necessary enquiries before completing the assessment but to come to the conclusion that the assessment order is also prejudicial to the interests of the Revenue, he has to go through the relevant material. But since the assessee did not produ .....

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h a direction to re-look into the matter in the light of paper book filed by the assessee. Needless to say that assessee shall be given a fair opportunity of being heard. - Decided in favour of assessee for statistical purposes. - ITA No. 285/Hyd/201 .....

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sessee is aggrieved by the order of the Ld. CIT under section 263 of the I.T. Act, by which the CIT has proposed to revised the assessment for A.Y. 2010- 2011 and arrive at the quantum of interest on deposits on which TDS was not deducted as per the .....

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s relating to the tax deducted at source on interest paid on deposits. The Assessee vide letter dated 28.12.2015 submitted to CIT that all the branches are subject to tax audit along with statutory audit and the particulars of TDS are verified and qu .....

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cts) showing the interest paid on TDRs amounting to ₹ 10,000 and TDS deducted and paid on those payees who were not given Form 15G/15H and prayed that the proposal to revise the assessment order may kindly be dropped. Since the assessee could n .....

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the assessee, Mr. T. Umakanth, has filed a paper book giving branch-wise statements of TDS particulars for the A.Y. 2010-2011 and submitted that these could not be filed before the CIT due to the reasons mentioned in the assessee's letter to the .....

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e CIT. 4. The Ld. D.R, on the other hand, has relied upon the order of the Ld. CIT. 5. Having regard to the rival contentions and the material on record, we find that the direction of the Ld. CIT to re-do the assessment is due to non-submission of th .....

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