M/s. Aangi Associates, Surat V. Income Tax Officer,Ward -3(3), Surat

ITA 164/SRT/2018

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 2279 (ITAT-SURAT)
• Duration Of Justice: 3 year(s) 7 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-10-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2011-2012
• Appeal Filed On: 09-03-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MRS ANUPAMA SINGLA
• Assessee Lawyers: VINEET JARIWALA
• Keywords: TDS
• Section: 143(3); 40(a)(ia); 201(1)

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, HON'BLE JUDICIAL MEMBER AND SHRI ARJUN LAL SAINI, HON'BLE ACCOUNTANT MEMBER . . ./ I.T.A NO.164/SRT/2018 [ [ / ASSESSMENT YEAR: 2011-12 M/S. AANGI ASSOCIATES 1103, B- TOWER, AASHIRWAD PALACE, NR. JIVKOR NAGAR, BHATAR ROAD, SURAT [PAN: AANFA 7184L VS. THE INCOME TAX OFFICER, WARD-3(3), SURAT. / APPELLANT /RESPONDENT [ /ASSESSEE BY SHRI VINEET JARIWALA, ADVOCATE /REVENUE BY MRS. ANUPAMA SINGLA SR. DR / DATE OF HEARING: 20.10.2021 /PRONOUNCEMENT ON: 20.10.2021 / O R D E R PER DR. A. L. SAINI, AM: THE CAPTIONED APPEAL FILED BY ASSESSEE, IS DIRECTED AGAINST THE ORDER PASSED BY LEARNED COMMISSIONER OF INCOME TAX (APPEALS), WHICH IN TURN ARISES OUT OF ASSESSMENT ORDER PASSED BY ASSESSING OFFICER U/S 143(3) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT), DATED 21.03.2014. 2. AT THE OUTSET, LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT LD. CIT(A) HAS ERRED ON FACTS IN CONFIRMING THE DISALLOWANCE OF RS. 65,15,557/- BEING INTEREST PAID TO M/S. BAJAJ FINANCE LTD. BY INVOKING PROVISIONS OF SECTION 40(A)(IA) OF THE ACT WITHOUT GIVING BENEFIT OF THE AMENDED PROVISIONS OF SECTION 201(1) OF THE ACT. LD. COUNSEL ITA NO. 164/SRT/2018 A.Y. 2011-12 2 PLEADS THAT ASSESSEE OBTAINED THE CERTIFICATE IN FORM NO. 26A AFTER PASSING THE ORDER BY THE LD. CIT(A) THEREFORE, ASSESSEE COULD NOT PRODUCE FORM NO. 26A BEFORE THE LD. CIT(A). LD. COUNSEL FURTHER CONTENDS THAT PAYEE HAS INCLUDED SUCH AMOUNT IN THIS BOOKS OF ACCOUNTS AND PAID THE TAXES THEREON, THEREFORE NO DISALLOWANCES SHOULD BE MADE. 3. THE LD. DR FOR THE REVENUE SUBMITS THAT MATTER MAY BE REMITTED BACK TO THE FILE OF THE ASSESSING OFFICER TO EXAMINE WHETHER PAYEE HAS TAKEN INTO ACCOUNTS SUCH INCOME IN HIS RETURN OF INCOME AND PAID THE TAXES THEREON. 4. WE HAVE HEARD BOTH THE PARTIES. WE NOTE THAT IF THE PAYEE HAS INCLUDED THE RECEIPTS IN ITS BOOKS OF ACCOUNTS AND HAS OFFERED FOR TAXES THAN THE DISALLOWANCES ON ACCOUNT OF NON-DEDUCTION OF TDS WILL NOT ARISE. THEREFORE, WE REMIT THIS ISSUE BACK TO THE FILE OF THE ASSESSING OFFICER TO EXAMINE WHETHER PAYEE HAS INCLUDED SUCH SUM IN HIS RETURN OF INCOME AND PAID THE TAXES THEREON. STATISTICAL PURPOSES THE APPEAL OF THE ASSESSEE IS TREATED TO BE ALLOWED. 5. IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. THE ORDER ANNOUNCE ON 20/10/2021 AS PER RULE 34(5)OF INCOME TAX (APPELLATE TRIBUNAL) RULES1963. SD/- SD/- PAWAN SINGH ARJUN LAL SAINI (JUDICIAL MEMBER) (ACCOUNTANT MEMBER) / SURAT, DATED : 20/10/2021 RAJESH KUMAR, SR.PS COPY OF ORDER SENT TO- ASSESSEE/AO/PR. CIT/ CIT (A)/ ITAT (DR)/GUARD FILE OF ITAT. BY ORDER // TRUE COPY // / / TRUE COPY / / ASSISTANT REGISTRAR, SURAT