TMI Blog2020 (9) TMI 253X X X X Extracts X X X X X X X X Extracts X X X X ..... )(ia) - non-deduction of TDS at source - assessee had no deducted requisite TDS on the amount credited to the respective expenses account - HELD THAT:- Assessee as well as the learned Sr. Departmental Representative agreed that this issue is squarely covered in favour of the assessee, as the assessee has already deducted TDS and paid to the Government exchequer before filing of return of income and this finding of CIT(A) is not contested before us. This issue has been considered by Tribunal in Assessment Year 2008-09 in assessee s own case - the issue is covered and it is not in disputed that the assessee has not deducted TDS or paid to the government exchequer before the due date of filing of return of income. In view of this fact, we are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee has leased Flat No.5 in Shangrila Building to Tata Sky Ltd. for a monthly rent of ₹ 1.25 lacs. This flat was, prior to leasing to Tata Sky Limited, leased to Deutsche Bank at a monthly rent of ₹3,12,500/-. The assessee received security deposit of ₹3.85 crores from Tata Sky limited and rent was fixed at a sum of ₹ 1.75 lacs. The Assessing Officer while framing the assessment, assessed the monthly rent at the rate of 3,12,500/- and a difference of ₹16,50,000/- to the rent received declared by the assessee under the head income from house property. Aggrieved, assessee preferred the appeal before CIT(A), who relying on the earlier year decision remanded the matter back to the file of the Assessing Officer dir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... discussed similar kind of cases in detail in case of Tip Top Typography and have laid down very detailed proposition on the determination of ALV. The Hon'ble High Court have accepted the contention of the assessee that, municipal valuation rate for determining the ALV is also an accepted method of valuation, which on facts and If circumstances of the case can be applied. They have even discussed whether, any adverse effect has to be drawn in the cases where interest free deposits have been accepted. Thus, in wake of the said judgment of Hon'ble Bombay High Court we are of the opinion that the matter should be restored back to the file of the AO to determine the ALV as per the guidelines proposed and laid down by the jurisdictional H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exure 3 of audit report. The assessee has not deducted any TDS on the year-end provision. The Assessing Officer noted that the assessee has not deducted any TDS hence, as per the provision of section 40(a)(ia) of the Act, he disallowed the same. The Assessing Officer also noted that the similar disallowance has been made in Assessment Years 2007-08 and 2010-11 and even, CIT(A) has confirmed the addition in Assessment Year 2008-09 vide his order dated 01.03.2012. Aggrieved, assessee preferred the appeal before CIT(A), who deleted the disallowance by relying on Tribunal s decision for Assessment Year 2008-09 in ITA No.3481/Mum/2012 vide order dated 31.07.2017. The CIT(A) noted that the assessee has deducted TDS and paid to the Government exch ..... X X X X Extracts X X X X X X X X Extracts X X X X
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