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TMI Blog2021 (10) TMI 5X X X X Extracts X X X X X X X X Extracts X X X X ..... sion, the appellant has violated the explanation to section 194A therefore, hold that the order passed by the Assessing Officer treating the appellant as an assessee in default, u/s.201 r.w.s. 194A of the Income tax Act is correct and deserves to be sustained. A.O. has already passed the rectification order dated 12.01.07 wherein the demand on account of short deduction has been reducedby giving credit for TDS deducted at the year end. The balance short deduction and interest computed in the aforementioned rectification order is accordingly upheld. We have gone through the same and do not find any infirmity. Allowing set off of excess tax deducted in subsequent quarters - We find that the same has already been considered and allowed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ourts/judges/registrar of High Court had made deposits with the bank - Before us the plea of the assessee is that the said circular has been quashed by Hon ble Delhi High Court. But no such decision has been brought to our notice. In view of the same, we cannot but uphold the findings of the Ld.CIT(A). - ITA No.1389/CHD/2018 (Assessment Year: 2011-12) - - - Dated:- 27-8-2021 - SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER Assessee by: None Revenue by: Smt. Meenakshi Vohra, Addl.CIT ORDER Per Annapurna Gupta, Accountant Member: The present appeal has been filed by the assessee against the order passed by the Commissioner of Income Tax (Appeals), Shimla [in short ref ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the short deduction and interest thereon on the aforestated two issues in his order passed u/s 201(1)/201(1A) of the Act. The assessee went in appeal to the Ld. CIT(A) who upheld the order of the AO and the matter thereafter travelled to the ITAT where the assessee raised additional grounds. The ITAT finding the said grounds to be legal in nature admitted the same and thereafter restored them to the Ld. CIT(A) for adjudication. Before the Ld. CIT(A),the assessee did not press the additional ground. The Ld. CIT(A) therefore after dismissing the additional ground went on to reiterate the order passed by the Ld. CIT(A) in the first round on the remaining grounds raised. 4. Aggrieved by the same, the assessee has now come up in appeal befor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tervals oral the end of the financial year. In case, no interest accrues to the depositor and the interest provision is only an accounting entry for CBS. the same may be covered by circular 3/2010 reproduced supra. The A.O. however in this case has clearly brought on record that as per the filings of the appellant himself, the interest is credited to the specific accounts of the depositors. During the course of hearing, the appellant was also asked to furnish copy of FDRs accounts to show and establish that no interest is accrued and credited to the specific accounts during the year. The appellant failed to furnish the same during the course of appeal proceedings. Furthermore, as brought out by the A.O. the appellant was deducting and depos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it of tax deducted at the year end and further noted that a rectification order dated 12.01.07 to this effect reducing the demand on account of short deduction of TDS by ₹ 13,82,568/- has already been passed by the AO. We fail to understand the grievance now remaining to be addressed on this account. Ground of appeal No.1 is therefore dismissed. 7. As for the grievance raised in ground No.2 of not implementing Circular No.03/2010 of the CBDT, we find that the Ld.CIT(A) has given a clear finding that the assessee was unable to establish how it was covered under the said circular. The import of the said circular, we find is that the CBDT had clarified that on account of the Core Branch Banking Solution (CBS) Software wherein for moni ..... X X X X Extracts X X X X X X X X Extracts X X X X
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