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TMI Blog2018 (10) TMI 295X X X X Extracts X X X X X X X X Extracts X X X X ..... nor shown by the payee then there is loss to the exchequer which consequently entails disallowance of expenditure claimed by the assessee. Such a provision cannot mean to call for disallowance when payer has paid the taxes on such an income as this proviso was brought to remove such hardship to the payer. Now such a beneficial amendment has been held to be retrospective by the Courts. Therefore, when payee has confirmed that it has accounted such an interest payment as its income, then no disallowance u/s. 40(ia) should be made. Accordingly, the addition made by the Assessing Officer is deleted. - Decided in favour of assessee. - I.T.A No.3143 And 3144/DEL/2018 - - - Dated:- 4-10-2018 - SHRI AMIT SHUKLA, JUDICIAL MEMBER For The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... said interest in their income and paid taxes in the impugned Assessment Year. The reason for submitting the additional evidence was that this document belongs to the third party and could not be procured within time. Ld. CIT (A) had incorporated the scanned copy of such interest certificate and copy of repayment schedule. The said additional evidence was sent to the Assessing Officer for remand report, however, the ld. Assessing Officer in his detailed report submitted that these additional evidences are afterthought and should not be accepted and Assessing Officer has given full opportunity to the assessee. In response to the said remand report, assessee filed a detailed rejoinder on 09.05.2017 which has been incorporated in the impugned o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the format in which the CA s certificate should be obtained by the payee. 5.1 The intention of the Legislature to bring such provisions was to remove the rigours of hardships on the assessee who are subjected to disallowance of otherwise genuine expenditure on account of non-deduction of TDS. Now if the payee has disclosed the sum so received as its income in his return of income then disallowance in the hands of the payer cannot be made. Here the assessee had duly claimed before the ld. CIT (A) and has filed necessary confirmation from the payee that he had acknowledged the interest paid by the assessee as its income and in support, reliance was placed upon the judgment of Hon'ble Delhi High Court in the case of CIT vs. Ansal Land ..... X X X X Extracts X X X X X X X X Extracts X X X X
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