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TMI Blog2014 (1) TMI 76X X X X Extracts X X X X X X X X Extracts X X X X ..... n made by the Assessing Officer disallowing the payments made to subcontractors amounting to Rs.33,44,300/- for nondeposition of TDS deductible during the period April 2007-Feb.2008 before the end of the F.Y. 2007-08 as per the provisions of section 40(a)(ia)." 2. Briefly stated the facts giving rise to this appeal are that the assessment proceedings were opened u/s 148 of the Income Tax Act, 1961 (for short the Act) after recording reasons in writing that the sum of Rs.4,69,76,481 had escaped assessment. After affording due opportunity of hearing to the assessee, the Assessing Officer finalized the assessment by making an addition on account of disallowance u/s 40(a)(ia) of the Act (as per para 16 of assessment order) filed an appeal befo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... due date specified in sub-section (1) of section 139 of the Act. The Assessing Officer was not justified in making any disallowance. The AR further submitted that admittedly the assessee deducted statutorily required TDS on the payments made to the sub-contractors on 31.3.2008 and deposited the same on 10.04.2008. Therefore, addition was not sustainable and the Commissioner of Income Tax(A) rightly deleted the same. 4. On careful consideration or rival submissions of both the parties, at the outset, we observe that the DR has not disputed the point that the assessee has made required deduction of TDS on the payments made to the sub-contractor on or before 31.3.2008 and the same was deposited to the exchequer on 10.04.2008. The only ground ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in computing the income chargeable under the head "Profits and gains of business or profession"- (a) in the case of any assessee- [(i) xxxxxxxxxxxxxxxxxxxxx (ia) any interest, commission or brokerage, (rent, royalty,) fees for professional services or fees for technical services payable to a resident, or amounts payable to a contractor 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 paid, - (A) in a case where the tax was deductible and was so deducted during the last month of the previous ye ..... X X X X Extracts X X X X X X X X Extracts X X X X
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