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TMI Blog2017 (10) TMI 1240X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessment year 2001-02 & 2002-03 vide order dated 24-03-2011 under section 201(1) of the Income Tax Act, 1961(hereinafter 'the Act'). 2. At the outset, it is noticed that both the appeals of the assessee are time barred by 41 days and for that assessee has filed condonation petition stated the reasons that the appellate order was misplaced and the appeal could not be filed. The learned Counsel stated the fact that the CIT(A) passed the order, which was served on 04-01-2014 and appeal before Tribunal was required to be filed within 60 days i.e. by 04-03-2014. But ultimately, the appeal was filed on 15-04-2014. Therefore, there is delay of 41 days, the assessee also drew our attention to the affidavit filed by the whole time director an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nafter referred as "CIT (A)") has erred in confirming the order of learned assessing officer (hereinafter referred as " AC.") in alleging nQi-e4uq4pn of TDS of Rs. 89,709/- U/s 201(1) of Income Tax Act, 1961 in respect of payment made to debenture Interest of Rs. 4,15,461/-. 2. Without prejudice to ground no. 1, it is submitted that C1T(A) was explained that TPS was deducted and deposited to the credit of Government by the appellant company in A.Y. 2004-05 as against A.Y. 2001-02 being the year under consideration. Further the CJT (A) has failed to accept contention of appellant that the deductee party are assessed to tax therefore U/s 201 (1), the appellant should not be held liable for TDS as such deductee parties have filed Income Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e charged. For this assessee relied on the decision of Hon'ble Supreme Court decision in the Case of Hindustan Coca Cola Beverage (P.) Ltd. vs. CIT (2007) 293 ITR 226. This plea was raised before CIT(A) also but CIT(A) confirmed the action of the AO vide Para 6 and 6.1 as under: - "6. I have considered the facts of the case, submission of the appellant and order u/s.201(1)/201(1A). In the instant case interest has accrued in A.Y.2001-02 in the case of MIs. Vidhi Holdings Pvt. Ltd. and Shri Popatlal Shah. The appellant follows mercantile system of accounting. Therefore, this interest was to be credited in the accounts of MIs. Vidhi Holdings Pvt. Ltd-and Shri Popatla J Shah in A.Y. 200102. Hence the appellant was liable to deduct TDS in A.Y ..... X X X X Extracts X X X X X X X X Extracts X X X X
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