TMI Blog2017 (10) TMI 1240X X X X Extracts X X X X X X X X Extracts X X X X ..... se parties. The AO at least can verify this fact whether these parties i.e. the recipients have declared this interest in AY 2004-05 as claimed by assessee, he will delete the addition. - Decided in favour of assessee for statistical purposes. - ITA No. 2536/Mum/2014, ITA No. 2537/Mum/2014 - - - Dated:- 27-10-2017 - Sri P. K. Bansal, VP And Sri Mahavir Singh, JM Assessee by : None, DR Revenue by : Ram Tiwari, AR ORDER Per Bench These two appeals by the assessee are arising out of the different order of Commissioner of Income Tax (Appeals)-14, Mumbai, [in short CIT(A)] in appeal No. CIT(A)-14/TDS Rg. (3)/IT-1161 1160 /2011-12, dated 12.12.2013 16.12.2013. The Assessments were framed by the Deputy Commissioner of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of ac, the appellant will remain ever grateful. When this was confronted to the learned Senior Departmental Representative ( DR ), he could not controvert. In view of the above facts and circumstances, we condone the delay and admit the appeals. 3. The only issue in both the appeals of the assessee is as regards to the order of CIT(A) confirming the action of the AO in treating the assessee in default for AY 2001-02 under section 201(1) of the Act and also charging interest under section 201(1A) of the Act amounting to ₹ 89,709/- and in AY 2002-03 under section 201(1) and under section 201(1A) of the Act amounting to ₹ 64,550/-. For this assessee has raised identical worded ground and the ground has raised in AY 2001-02 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rest accrued to the following parties as under: - Sr. No. Name Amount of interest accrued for the FY 1999-2000 1. Vidhi Holdings Pvt Ltd. 400073 2. Shri Virendra Popatlal Shah 15388 Total 415461 Similarly, in Financial Year 2001-02 amount of interest accrued is as under: - Sr. No. Name Amount of interest accrued for the FY 1999-2000 1. Vidhi Holdings Pvt Ltd. 308184 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .Y.2004-05 for M/s. Vidhi Holding Pvt. Ltd. and even M/s.Vidhi Holding Pvt. Ltd. has shown it in A.Y.2004-05 has no relevance for A.Y.2001-02. It is also observed that this action of deducting TDS on interest has happened after the revenue has detected the discrepancy in survey conducted in 2002. For interest payment to Shri Popattai - Shah, no submission has been made at the time of appellate proceedings. The reliance in the case of M/s. Hindustan Coca Cola Beverages Ltd. '[SC) is misplaced as M/s.Vidhi Holding Pvt. Ltd. has not accounted for interest in its income in A.Y.2001-02. 6. From the above facts and circumstances, we find that the TDS deducted for AY 2004-05 related to the interest accrued in FY 2000-01 and 2001-02 to the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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