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TMI Blog2022 (9) TMI 976X X X X Extracts X X X X X X X X Extracts X X X X ..... ited before the due date of filing of return u/s. 139(1). On perusal of Tax Audit Report provided u/s. 44AB of the Act more specifically annexure 5 for Form 3CB and as stated by the tax of Rs. 3,158/- has been deducted at source on the alleged interest payment of Rs. 31,580/- and the assessee has deposited the amount of Rs.3,158/- on 20-04- 2006, which is much more before the due date of filing return u/s. 139(1). Under these facts and circumstances of the case the ld. AO erred in invoking the provisions of section 40(a)(ia) - therefore, set aside the impugned finding of the ld. CIT(A) and delete the disallowance u/s. 40(a)(ia). - ITA No. 391/Kol/2022 - - - Dated:- 20-9-2022 - Shri Manish Borad , Accountant Member By Appellant : S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ces P.Ltd in ITA No. 318/Kol/2022 dt. 02-08-2022, since no exempt income is earned by the assessee during the year the disallowance made u/s. 14A/r.w.r 8D is uncalled for. As regards the second issue, the disallowance of Rs.31,580/- made u/s. 40(a)(ia) of the Act, Ld. Counsel for the assessee submitted that the said amount stands duly deposited before the due date of filing of return u/s. 139(1) of the Act. Thus, the disallowance made u/s. 40(a)(ia) of the Act is also uncalled for. 5. Per contra, the Ld. Departmental Representative vehemently argued supporting the orders of the lower authorities. 6. I have heard the rival contentions and perused the record placed before me. I observe that the assessee is a private limited company and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efore, set aside the finding of the ld. CIT(A) and delete the impugned addition Rs.3,87,770/- made by the ld.AO u/s. 14A of the Act. Ground no. (i) of assessee s appeal is allowed. 9. As regards ground no. (ii), I find that the assessee had incurred interest expenditure of Rs. 31,580/-. It was liable to deduct tax at source u/s. 194A of the Act. The provisions of section 40(a)(ia) of the Act could have been attracted in the case of assessee if the amount of TDS has not been deducted and deposited before the due date of filing of return u/s. 139(1). However, on perusal of Tax Audit Report provided u/s. 44AB of the Act more specifically annexure 5 for Form 3CB and as stated by the Ld. Counsel for the assessee before me that tax of Rs. 3,15 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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