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TMI Blog2017 (4) TMI 1273X X X X Extracts X X X X X X X X Extracts X X X X ..... (1) of Section 201, then, for the purpose of this sub-clause, it shall be deemed that the assessee has deducted and paid the tax on such sum on the date of furnishing of return of income by the resident payee referred to in the said proviso. - Decided against revenue X X X X Extracts X X X X X X X X Extracts X X X X ..... o give any credible explanation, the AO disallowed the entire expenses of ₹ 71,17,450/-. 4. Aggrieved by the order of the AO, the assessee filed an appeal before the learned CIT(A). Since the documents submitted by the assessee during the course of appeal had not been seen by the AO, the learned CIT(A) remanded back the matter to the AO on 24.06.2014 for verification. The learned CIT(A) received the remand report from the AO on 31.10.2014. The learned CIT(A) then observed that necessary tax has been paid by the deductees and therefore, as already verified by the AO, there is no loss caused to the exchequer. The learned CIT(A) observed that the amendment to section 40(a)(ia) in terms of the insertion of the proviso would be applicable ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enue pertaining to the retrospectivity of the second proviso to section 40(a)(ia) of the Act which reads as under: "Provided further that where an assessee fails to deduct the whole or any part of the tax in accordance with the provisions of Chapter XVII-B on any such sum but is not deemed to be an assessee in default under the first proviso to sub-section (1) of Section 201, then, for the purpose of this sub-clause, it shall be deemed that the assessee has deducted and paid the tax on such sum on the date of furnishing of return of income by the resident payee referred to in the said proviso." The Hon'ble High Court agreed with the reasoning of ITAT Agra Bench in the case of Rajiv Kumar Agarwal vs. ACIT (ITA No. 337/Agra/2013) holdin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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