TMI Blog2018 (9) TMI 2072X X X X Extracts X X X X X X X X Extracts X X X X ..... IGH COURT ] first proviso to Section 201(1) as well as proviso to Section 40(a)(i) of the Act had to be construed retrospectively. Considering the facts and circumstances of the case, we are of the opinion that issue requires a fresh look by the ld. Assessing Officer. Ld. Assessing Officer can use the powers vested on him for getting the required information from M/s. Reliance Capital Ltd, so as to ascertain whether they had included the interest paid by the assessee, as a part of their income and filed return after paying due taxes. Ld. Assessing Officer can also direct the M/s. Reliance Capital Ltd to issue the certificate mandated in Annexure A to form 26A, if the said company fails to respond to assessee s request. Ld. Assessing Office ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Capital Ltd on 18.03.2016 requesting it to furnish Form 26A. However, as per the ld. Authorised Representative, ld. Assessing Officer took a view that assessee had failed to deduct tax at source on such payments, and made a disallowance of ₹ 9,20,853/- u/s.40(a) (i) of the Act. Further, as per the ld. Authorised Representative, assessee s appeal before ld. Commissioner of Income Tax (Appeals) did not meet with any success. 4. Contention of the ld. Authorised Representative before us is that assessee had done everything what was possible for obtaining the necessary confirmation from M/s. Reliance Capital Ltd for having included the interest in its returned income. According to the ld. Authorised Representative, if given one more opp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e and filed return after paying the taxes, assessee can always say that it cannot be deemed as one in default. By virtue of the judgment of Hon ble Delhi High Court in the case of Ansal Land Mark Township P. Ltd (supra), first proviso to Section 201(1) as well as proviso to Section 40(a)(i) of the Act had to be construed retrospectively. Considering the facts and circumstances of the case, we are of the opinion that issue requires a fresh look by the ld. Assessing Officer. Ld. Assessing Officer can use the powers vested on him for getting the required information from M/s. Reliance Capital Ltd, so as to ascertain whether they had included the interest paid by the assessee, as a part of their income and filed return after paying due taxes. L ..... X X X X Extracts X X X X X X X X Extracts X X X X
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