9911796707
TMI Blog2022 (6) TMI 451X X X X Extracts X X X X X X X X Extracts X X X X ..... ounds of appeal:- "1. That the learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, has erred in law and facts by not deleting the addition of Rs.4,69,510/- of interest income of under the head Income from other sources as it has been offered for taxation in the earlier year(s) and therefore the ld. AO to be directed to delete the said addition while computing the total income or otherwise it amounts to double taxation. 2. That in view of the above facts and grounds of appeal, the appellant be granted stay for payment of demand, till the decision of the appeal. 3. That your appellant craves a leave to add, alter or amend any grounds at the time of hearing. Total tax effect Rs. 54,724 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... included in the intimation is of the earlier year which has already been taxed on the basis of accrual method. The TDS has been deducted by the deductor on the cash basis. The contention of the appellant is that CPC has enhanced the income of the appellant under the head "income from other sources" on the basis of the TDS amount, which is against the law and facts. 3.1 The appellant has not produced any supporting evidence in response to notice under section 250 to prove its contention that the TDS has been deducted by the deductor on cash basis whereas the appellant is accounting the income accrued on such TDs on accrual basis. No evidence is produced before me during appellate proceedings to show that the amount added back by the CPC i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ced reliance on the Punjab and Haryana High Court decision in the case of CIT v. Sonal Bansal (2008) 215 CTR pH 65, wherein the High Court has made the following observations: One of the guidelines in the CBDT circular is that the TDS is to be made at the time of maturity of the bond and it was to be issued to the holder of the bond at the time of maturity. It is undisputed that the TDS certificate was issued in the name of the assessee being holder or owner of the bond at the time of maturity. Therefore, the case of the petitioner is covered by the virtue of expression or owner of the property or the unit holder which were added in Section 199 w.e.f. 1st April, 1997. Therefore, we accept the view taken by the CIT(A) as well as the Tribun ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
