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TMI Blog2017 (5) TMI 1705X X X X Extracts X X X X X X X X Extracts X X X X ..... of return, that the provisions of section 40(a)(ia) were not applicable - HELD THAT:- We find that the assessee itself had admitted that taxes were paid in the subsequent AY. In the cases of Rajendra Yadav ( 2016 (3) TMI 358 - ITAT JAIPUR ) and Amruta Quarry Works ( 2016 (7) TMI 1246 - ITAT AHMEDABAD ) , the Tribunal had held that amendment to section 40(a)(ia) was retrospective in nature, that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . The Assessing Officer (A.O.) completed the assessment on 26. 12.2007 at ₹ 8.68 crores. He made disallowance 40(a)(ia) on account of late payment of TDS(₹ 7.86 crores),interest suspense account (₹ 15.91 lakhs) and sundry creditors (₹ 41.84 lakhs).The first appellate authority (FAA ) confirmed the additions made by the AO. The Tribunal vide its order dated 04.05.2012 restor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ayable on last date of any previous year but also amounts which were payable at any time during the year, that the assessee had not furnished evidence of TDS payment with reference to the amount of ₹ 7.82 Crores that no other submission was made in that regard, finally ,the FAA upheld order of the AO. 3.Before us the Authorised Representative (AR)submitted that the assessee had paid tax de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he AR argued that the amendment to section 40(a)(ia) in the year 2014 was introduced to reduce hardship caused to the assessee, that the Tribunal in the case of amruta Quarry Works(supra), had held that amendment to section 40(a) (ia) of the Act vide Finance (2), Act 2014 w.e.f. 1.4.2015 was retrospective in nature, that the disallowance must be restricted to 30% of the expenses on which tax was n ..... X X X X Extracts X X X X X X X X Extracts X X X X
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