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TMI Blog2015 (12) TMI 1465X X X X Extracts X X X X X X X X Extracts X X X X ..... rt in the case of Vijay Hemant Finance & Estates Ltd.,[1999 (4) TMI 65 - MADRAS High Court ] which is identical to the case of the assessee wherein the Hon’ble High Court remitted the matter back to the file of Ld. Assessing Officer for providing an opportunity to the assessee to rectify the defects in the Form 15H. Following the aforesaid decision of the Hon’ble Jurisdictional High Court, we also hereby remit the matter back to the file of Ld. Assessing Officer with similar direction. - Decided in favour of assessee for statistical purposes. - ITA No. 799/Mds/2015 - - - Dated:- 11-11-2015 - Shri A. Mohan Alankamony, Accountant Member And Shri Challa Nagendra Prasad, Judicial Member For the Appellant : Shri. P. A. Aswin Kumaar, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /- as interest expenses to various parties in his P L account however, failed to deduct TDS on the aforesaid amount. In response to AO s proposal dated 11.03.2013, the assessee pleaded that he had obtained Form 15-G from all the payees except Smt, Gowari and Sri Gothandaraman and enclosed the Xerox copies of the Form-15G. On perusing the Form 15G, the Ld. Assessing Officer observed that the Form No.15G was undated. Therefore the Ld. Assessing Officer invoked the provisions of section 40(a)(ia) of the Act and disallowed the interest expenditure claimed by the assessee as deduction. 4.1 On appeal, the Ld. CIT (A) confirmed the order of the Ld. Assessing Officer and held as follows:- 5.2. During appeal, Appellant made following written ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issioner of lncome Tax (Appeals). During the course of assessment proceedings your appellant has filed copies of twelve I 5G forms, which were already filed before CIT on 12.01.2013 through his Chartered Accountant by his letter 157/12-13 dated 14.03.2013. As such the addition made under this count is not warranted it is requested to be deleted. 5.3. The remand report of the assessing officer dated 13.3.2015 is as under:- A perusal of Xerox copy of the local delivery book produced by the assessee s authorized representative reveals that copies of twelve numbers of 15-G forms had been filed before the Commissioner of Income Tax-1 Madurai without the signature of the receiving official and it is simply written in the signature col ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Income Tax before the due date. Once the forms are not valid appellant deemed to have become default under TDS and therefore, the disallowance u/s.49(a)(is) will be invoked. In view of the above he addition is upheld. 4. Before us, the Ld. A.R. reiterated the submissions made before the Revenue. He argued further stating that the assessee had received the Forms 15G from all those persons to whom interest was paid except two individuals and the same were filed before the Ld.A.O at the time of assessment proceedings and also before Ld. CIT on 12.01.2013 vide letter dated 14.03.2013. It was therefore argued that the provisions of section 40(a)(ia) of the Act cannot be invoked in the case of the assessee because the assessee was not liabl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... also taken the same view. The Bombay High Court was dealing with a case where an application for renewal of registration was not signed by one of the partners and it was rejected on the ground that the application was defective. The question arose whether the action of the ITO was justified and whether the ITO was required to give an opportunity to the assessee to rectify the defects in the application filed for renewal of registration of the firm. Sujatha Manohar, J. (as Her Lordship then was) speaking for the Bench of the Bombay High Court referred to a Circular issued by the Central Board of Revenue dated 114-1955 [Circular No. 14 (XL-35) of 1955] and held as under: It is now well-settled that even if the contents of a circular ma ..... X X X X Extracts X X X X X X X X Extracts X X X X
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