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2016 (8) TMI 742 - KERALA HIGH COURT

2016 (8) TMI 742 - KERALA HIGH COURT - TMI - Application of Section 40a(ia) - whether the payments were made by the assessees in the previous year - Held that:- Having regard to the judgment of the Gujarat High Court in Merilyn Shipping & Transport case [2012 (4) TMI 290 - ITAT VISAKHAPATNAM] the orders of the Tribunal has to be set aside and the matter has to be remitted to the Tribunal for fresh consideration. It is also clarified that if the assessees so desire, it would be open to them to cl .....

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: ADVS.SRI.P.K.R.MENON,SR.COUNSEL, GOI (TAXES) SRI.JOSE JOSEPH, SC, FOR INCOME TAX FOR THE RESPONDENT : ADV. SRI.T.M.SREEDHARAN (SR.), ADV. SRI.V.P.NARAYANAN, ADV. SMT.BOBY M.SEKHAR, ADV. SMT.DIVYA RAVINDRAN JUDGMENT Antony Dominic, J. These appeals are filed by the Revenue challenging the orders of the Income Tax Appellate Tribunal, Cochin Bench in ITA Nos.325/10, 400/11 and 401/11. The assessment year relevant for these cases is 2006-2007. 2. The common facts of the case are that the assessee .....

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he appeals. The acceptance of the aforesaid contention of the assessees was on the basis that the Special Bench of the Tribunal itself in the case of Merilyn Shipping & Transport v. Addl. Commissioner of Income Tax (2012) 70 DTR 81 had accepted the said contention. It is aggrieved by these orders of the Tribunal, the Revenue has filed these appeals. 3. We heard the Senior Counsel for the Revenue, learned Senior Counsel appearing for the assessee in ITA 58/13 and the learned counsel for the a .....

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ibunal has already been held to be incorrect by the Gujarat High Court in the judgment Commissioner of Income Tax v. Sikandarkhan N. Tunvar [2013] 357 ITR 312 (Guj). Considering an almost similar case, this court has followed the Gujarat High Court judgment in the judgment in the I.T.A.No.278/14, where this court held thus: Another contention that was pressed into service was that the appellants had already paid the amount and therefore, the provisions of Section 40(a)(ia), applicable only in re .....

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akes it clear that the consequence of disallowance is attracted when an individual, who is liable to deduct tax on any interest payable to a resident on which tax is deductible at source, commits default. The language of the Section does not warrant an interpretation that it is attracted only if the interest remains payable on the last day of the financial year. If this contention is to be accepted, this Court will have to alter the language of Section 40(a) (ia) and such an interpretation is no .....

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