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TMI Blog2010 (12) TMI 1209X X X X Extracts X X X X X X X X Extracts X X X X ..... This appeal filed by the Revenue is against the order dated 30.04.2010 of Learned Commissioner of Income Tax (Appeals)-IV, Baroda for the assessment year 2005-06. 2. The only ground raised by the Revenue in its appeal is as under :- On the facts and in the circumstances of the case, the Learned Commissioner of Income Tax(Appeals) erred in cancelling the disallowance made u/s. 40(a)(i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i A. Patel, HUF, wherein total income declared was ₹ 47,268/-, i.e. below taxable limit, and also copy of Form 15G. A letter through which Form 15G was sent to CIT, Baroda by post, was also submitted and it was contended that the assessee was not liable to deduct tax at source under section 194A of the Act from the interest payment to Manibhai A. Patel, HUF. The Assessing Officer observed th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interest payment to this party. Whether or not the Form 15G so obtained was sent to CIT, Baroda to comply with section 197A(2) does not change this position. Since tax was not deductible from the interest payment to Manibhai A. Patel, HUF, due to submission of Form 15G by the party, disallowance u/s. 40(a)(ia) cannot be made. In view of this, disallowance of ₹ 5,60,757/- is cancelled . ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ote that due to submission of Form No. 15G by Manibhai A. Patel, HUF, the assessee has not deducted tax at source from the interest paid to the said party. The assessee has filed the copy of written submission submitted by Manibhai A. Patel, HUF for the assessment year 2005-06, which clearly indicates that its assessed income for the assessment year under consideration is only ₹ 47,268/-. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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