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TMI Blog2023 (8) TMI 716X X X X Extracts X X X X X X X X Extracts X X X X ..... -section (1) of section 201 of the Act in respect of interest paid by the assessee to Reliance Capital Ltd., wherein it has been certified that Reliance Capital Ltd. has taken into account the sum received as interest from the assessee while computing its taxable income in the return of income filed. We deem it appropriate to admit the additional evidence filed by the assessee before us. We are further of the view that in the interest of justice, this issue be remanded to the Assessing Officer for de novo adjudication as per law after necessary verification of details as submitted by way of additional evidence before us. Before concluding on this issue, we may add that in respect of interest paid to the other NBFCs, i.e, Tata Capital ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... BASKARAN, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER For the Assessee by : None For the Revenue by : Ms. Vranda U. Matkari O R D E R PER SANDEEP SINGH KARHAIL, J.M. The present appeal has been filed by the assessee challenging the impugned order dated 05/06/2017, passed under section 250 of the Income Tax Act, 1961 ( the Act ) by the learned Commissioner of Income Tax (Appeals) 21, Mumbai, [ learned CIT(A) ], for the assessment year 2012 13. 2. The present appeal is delayed by 1862 days. In the affidavit sworn by the Director of the assessee company, it has been submitted that the impugned order was issued online and the assessee received no communication regarding the same. Further, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , we find that the impugned order dated 05/06/2017 has been claimed to be received by the assessee on 14/06/2022. As per the assessee, neither the physical copy of the impugned order was received by it nor there was any intimation regarding the uploading of the impugned order on the Income Tax portal. Undoubtedly, the assessee was supposed to intimate the change in address to the learned CIT(A), however, as per the provisions of section 253(3) of the Act, the assessee is required to file the appeal within 60 days from the date of receipt of the order, which in the present case is claimed to be 14/06/2022. The Revenue has not brought any evidence on record to rebut the aforesaid claim. We find that the reasons stated by the assessee for seek ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... only dispute raised by the assessee, in the present appeal, is against the disallowance of interest component on EMI paid to Non-Banking Financial Companies ( NBFCs ) under section 40(a)(ia) of the Act. 6. The brief facts of the case as emanating from the record are: The assessee is a private limited company and is engaged in the profession of providing architectural services. For the year under consideration, the assessee e-filed its return of income on 29/09/2012 declaring a total income of Rs. 46,00,720. The return filed by the assessee was selected for scrutiny and statutory notices under section 143(2) as well as section 142(1) of the Act alongwith a questionnaire was issued and served on the assessee. During the assessment proceed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s not deemed to be an assessee in default under the first proviso to section 201(1), then, for the purpose of this sub-clause, it shall be deemed that assessee has deducted and paid the tax on such sum on the date of furnishing of return of income by the resident payee. 8. From the facts available on record, it is evident that the assessee though has taken the plea on the basis of the second proviso to section 40(a)(ia) of the Act, however, failed to establish or prove that NBFCs had paid income tax on interest received from the assessee. Now, in the present appeal, the assessee by way of additional evidence has produced a copy of Form No. 26A issued by the Chartered Accountant under the first proviso to sub-section (1) of section 201 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y way of additional ground is a legal issue, which can be decided on the basis of material available on record, we are of the view that the same can be admitted for consideration and adjudication in view of the ratio laid down by the Hon ble Supreme Court in NTPC Ltd v/s CIT: 229 ITR 383. 11. We find that the Finance (No. 2) Act, 2014 substituted the provisions of section 40(a)(ia) of the Act as under:- (ia) thirty per cent of any sum payable to a resident, on which tax is deductible at source under Chapter XVII-B and such tax has not been deducted or, after deduction, has not been paid on or before the due date specified in sub-section (1) of section 139 : 12. CBDT, while explaining the provisions of the Finance (No. 2) Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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