9911796707
|
Home
Issues involved: Appeal against order of CIT(A)-VI, Baroda for A.Y. 2003-04 regarding non-deduction of TDS under Section 194 I for hoarding rent payments exceeding Rs. 1,20,000 to six persons.
Summary: The Assessing Officer found that the Assessee had paid Rs. 22,56,666 to six persons as hoarding rent during the assessment year 2003-04 without deducting tax under Section 194 I. The demand raised under Section 201(1) read with Section 194 I and interest under Section 201(1A) amounted to Rs. 3,70,627. CIT(A) allowed the appeal, citing the limitation of four years for initiating proceedings u/s 201, based on precedents like Raymond Woollen Mills Ltd. case. The Revenue appealed, arguing that the proceedings were initiated within six years as per Section 201(3)(ii). However, the Tribunal upheld CIT(A)'s decision, stating that the amendment for a six-year limit was not applicable to the case as it was passed before the amendment took effect. In conclusion, the Tribunal dismissed the Revenue's appeal, affirming CIT(A)'s decision to delete the tax demand and interest under Section 201(1) and 201(1A) respectively, based on the limitation of four years for initiating proceedings u/s 201.
|
