9911796707
TMI Blog2012 (7) TMI 771X X X X Extracts X X X X X X X X Extracts X X X X ..... uantum of the default needs to be computed it would, therefore, be necessary to remand the matter to the AO computing the exact quantum of default and the interest payable. - ITA 407/2012 - - - Dated:- 25-7-2012 - MR. JUSTICE S. RAVINDRA BHAT MR. JUSTICE R.V. EASWAR, MR. JUSTICE S.RAVINDRA BHAT, JJ. For Appellant: Mr.M.P.Rastogi Mr.K.N.Ahuja, Advocates. For Respondent: Mr.Deepak C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as Commissioner of Income Tax (TDS) v. M/s American Express Bank Ltd., ITA 74/2003 dated 21st December, 2011. The said judgment has clarified that if the assessee fails to deduct the tax, it has to be recovered along with interest under Section 201 (1A) of the Act. 5. In M/s American Express Bank Ltd., the Court had observed as follows:- 9. While we are not inclined to disturb the finding of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsidered as an assessee in default for the purposes of Section 201(1) of the said Act. Therefore, this finding of the Tribunal is set aside. Consequently, question no.1 is decided in favour of the Revenue and against the assessee. 11. We would like to reiterate that although the questions have been decided in favour of the Revenue, it must be remembered that the finding of the Tribunal that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly for the period commencing from the date on which such tax was deductible to the date on which the tax is actually paid‟ [see: CIT v Adidas India Marketing P. Ltd : (2007) 288 ITR 379 (Del) and CIT v Trans Bharat Aviation (P) Ltd : (2010) 320 ITR 671 (Del)]. The assessing officer shall give full opportunity to the assessee to produce documents in this regard. The appeals are allowed to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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