TMI Blog2017 (5) TMI 1705X X X X Extracts X X X X X X X X Extracts X X X X ..... at the assessee itself had admitted that taxes were paid in the subsequent AY. In the cases of Rajendra Yadav ( 2016 (3) TMI 358 - ITAT JAIPUR ) and Amruta Quarry Works ( 2016 (7) TMI 1246 - ITAT AHMEDABAD ) , the Tribunal had held that amendment to section 40(a)(ia) was retrospective in nature, that the amount to be disallowed under the said section had to be restricted to 30% of the impugned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7; 24.29 lakhs. The Assessing Officer (A.O.) completed the assessment on 26. 12.2007 at ₹ 8.68 crores. He made disallowance 40(a)(ia) on account of late payment of TDS(₹ 7.86 crores),interest suspense account (₹ 15.91 lakhs) and sundry creditors (₹ 41.84 lakhs).The first appellate authority (FAA ) confirmed the additions made by the AO. The Tribunal vide its order dated 04. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ld cover not only amounts as payable on last date of any previous year but also amounts which were payable at any time during the year, that the assessee had not furnished evidence of TDS payment with reference to the amount of ₹ 7.82 Crores that no other submission was made in that regard, finally ,the FAA upheld order of the AO. 3.Before us the Authorised Representative (AR)submi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t (235taxman246). In his rejoinder the AR argued that the amendment to section 40(a)(ia) in the year 2014 was introduced to reduce hardship caused to the assessee, that the Tribunal in the case of amruta Quarry Works(supra), had held that amendment to section 40(a) (ia) of the Act vide Finance (2), Act 2014 w.e.f. 1.4.2015 was retrospective in nature, that the disallowance must be restri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hold that disallowance should be restricted to 30% effective Ground of appeal is decided in favour of the assessee in part. As the appeal for the subsequent AY.is not before us, we are not passing any order in that regard. As a result appeal filed by the assessee stands partly allowed. Order pronounced in the open court on 24th, May, 2017. - - TaxTMI - TMITax - Income ..... X X X X Extracts X X X X X X X X Extracts X X X X
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