9911796707
TMI Blog2023 (3) TMI 44X X X X Extracts X X X X X X X X Extracts X X X X ..... here is a categorical finding also by the Ld. CIT(A) that nothing has been brought on record by the assessee in the form of any documentary evidences/circular/Rules whereby if the assessee has paid an amount as per MVAT Rules then it was not required to make TDS payment. Even before us also, this was not established. Rather, assessee submitted that the provisions u/s. 40(a)(ia) of the Act is not applicable so far as the transactions of the assessee taken place in the relevant year. Department should be given an opportunity in this regard to verify the contentions of the assessee and readjudicate the issue as per law. In view thereof, we set aside the order of CIT(A) and remand the matter to the file of Ld. AO for readjudication as per law c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 On account of loss on sale of assets 3,05,417/- 2 On account of interest on TDS 5,601/- 3 U/s. 40(a)(ia) on account of TDS paid towards works contracts 15,21,133/- 4 On account of penalty paid to Tata Motors 34,233/- 3. In view of the above, the Ld. AO assessed the assessee s total income at Rs.1,68,70,174/- as against the returned income of Rs.1,50,03,790/-. The facts on record further states that during the assessment proceedings, the Ld. AO found from the Auditor s Report as per the observation made by the Auditor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee was unable to justify why the assessee should be absolve of the liability of deducting TDS as mandated by the Act simply because, the assessee had deducted MVAT as per the MVAT Rules. The Ld. Counsel also could not elaborate and justify her arguments as to why the TDS provision will not be applicable in the case of assessee. Rather, she came up with the new argument that the provisions of section 40(a)(ia) of the Act is not applicable to the assessee with regard to the transactions in question for the relevant assessment year. She submitted that the matter may be verified by the Ld. AO once again. The Ld. DR did not raise any objection, if the matter is to be remanded back to the file of Ld. AO for verification. 6. We have heard the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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