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TMI Blog2014 (7) TMI 1276X X X X Extracts X X X X X X X X Extracts X X X X ..... equently, the same stands reversed and that of the AO restored - thus this appeal of revenue stands allowed. Disallowance u/s 40(a)(ia) on account of expenditure on interest on which no TDS was deducted - Held that:- Form No. 15G/H has not been produced by the assessee before the learned Commissioner of Income-tax (Appeals) nor even before us - hence the appeal of revenue stand allowed. - ITA No. 35/Kol/2013 - - - Dated:- 30-7-2014 - Hon ble Sri P.K. Bansal, AM Hon ble Sri George Mathan, JM For the Appellant/ Department Shri. A.P. Roy, ld.JCIT/Sr.DR For the Respondent/ Assessee: Shri V.N Purohit, FCA, ld.AR ORDER Shri George Mathan, Judicial Member This is an appeal filed by the revenue against the order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t was the further submission that as per provisions of section 40(a)(ia) of the Act the assessee was liable to deduct the TDS within the previous year 2008-09 itself and the proviso allowed it if paid within the time specified u/s.139(1) of the Act. It was the further submission by him that the order of the learned Commissioner of Income-tax (Appeals) on this issue was liable to be reversed. He has vehemently supported the order of the AO in doing so. 4.1 In respect of ground no.2, it was submitted by Shri A.P Roy, learned JCIT/Sr.DR that the issue was against the action of the learned Commissioner of Income-tax (Appeals) in deleting the addition on account of expenditure on interest for a sum of ₹ 95,441/- on which no TDS was made ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the due date of filing of return u/s. 139(1) of the Act, deduction in respect of the amount on which TDS is so paid, is allowable. He has vehemently supported the order of the learned Commissioner of Income-tax(Appeals) on this issue. 5.1 In respect of ground no.2, it was submitted by Shri V.N.Purohit, FCA, learned AR for the assessee that the learned Commissioner of Income-tax (Appeals) has categorically given his finding that the AO was of the view that though the appellant received Form No.15G for non deduction of tax, but the same was not submitted to the appropriate authority. Hence, the appellant was absolved of its liability to deduct the tax. The learned AR for the assessee has placed his reliance on the order/decision of the co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... S is to be made at the time of credit or payment, whichever is earlier. The fact that the provisions of section 194C and 194H specified that the deduction of TDS is to be made at the time of credit or payment clearly shows that what is required u/s. 40(a)(ia) is the deduction of tax before the end of the financial year. The proviso thereto section 40(a)(ia) permits the payment of such sum, which is deducted at source [TDS] to be made before the due date of filing of the return u/s. 139(1) for claiming the deduction. A perusal of para 3.4 of the assessment order and chart thereto show that none of the TDS has been made before 31-03- 2009. Admittedly, all payments of TDS have been made after 31-03-2009, but the TDS has been deposited before t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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