9911796707
TMI Blog2013 (10) TMI 1078X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner of Income Tax-Ill, Hyderabad ought not to have assumed jurisdiction u/s 263 in as much as the subject matter of 263 proceedings was duly considered, examined on being satisfied with the explanation offered by the appellant, the Assessing officer had chosen not to make any addition in respect of those items. (3) The learned Commissioner of Income Tax-Ill, Hyderabad ought not to have assumed jurisdiction u/s 263 as the order sought to be revised is not erroneous as the assessment order was passed in accordance with the law and the same cannot be branded as erroneous simply because the learned Commissioner of Income Tax-Ill, Hyderabad felt that expenditure amount of Rs. 79,03,201 is not allowable based on surmises, conjectures w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... actor or sub-contractor, being resident, for carrying out any work (including supply of labour for carrying out any work), on which tax is deductible at source under chapter XVII-B and such tax has not been deducted or, after deduction, has not been deducted or after deducting tax has not been paid on or before due date specified in sec. 139(1)." The Hon'ble Calcutta High Court in case of CIT vs. Virgin Creations in judgment dated 23-11-2011 in ITA No.302 of 2011 GA 3200/2011 held that amendment to the provisions of sec. 40(a)(ia) of the Act, by the Finance Act, 2010 would be applicable retrospectively from 1-4-2005. Following the aforesaid decision of Hon'ble Calcutta High Court, different benches of the Tribunal have also held that the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... money within seven days from that date and if the amount is actually paid when the credit is given, then the tax is payable within two months. In the instant case, assessee did not comply with the legal requirement; therefore, the Assessing Authority was justified in making the disallowance, but on the date the appeal was filed, the section came to be amended, giving retrospective benefit. Therefore, the appellate authority extended the benefit of the amended provision and held that the disallowance is paid and the order has been upheld by the Tribunal. By Finance Act, 2008 which is given retrospective effect from 1.4.2005, the benefit of that provision had been extended to the assessee, though no fault was found with the assessment order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r Kumar in Income Tax Appeal No. 65/2013 dated 1 July, 2013, the impugned amendment to section 40(a)(ia) permits remittance of TDS to the Central Government account on or before the due date of filing return of income u/s. 139(1) of the Act is retrospective in nature. Same view has been taken by the jurisdictional High Court in the case of CIT vs. PEC Electricals Pvt. Ltd., in ITA No. 263 of 2013 dated 12.7.2013. The assessee in present case paid the TDS to the Central Government account before filing the return of income and the same is to be allowed as held by the above judgements. Accordingly, we do not find any infirmity in the action of the CIT(A) in directing the Assessing Officer to delete the addition made u/s 40(a)(ia) of the Act a ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
