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<h1>Tribunal rules in favor of assessee in Income Tax appeal, overturns disallowance</h1> The Tribunal ruled in favor of the assessee, partially allowing the appeal. The disallowance on account of delayed TDS payment under section 40(a)(ia) of ... - Issues involved:1. Disallowance on account of delay of payment of TDS u/s. 40(a)(ia) of the Income Tax Act, 1961.2. Restriction of disallowance on car expenses, car depreciation, and telephone charges at 10%.Issue 1: Disallowance on account of delay of payment of TDS u/s. 40(a)(ia) of the Income Tax Act, 1961:The appeal by the assessee challenges the order of CIT(A) confirming the disallowance due to delayed payment of TDS under section 40(a)(ia) of the Act for transport payments. The CIT(A) upheld the disallowance citing the amendment by the Finance Act, 2010 as not prospective. The assessee contended that the issue is in their favor based on the decision of the Hon'ble Calcutta High Court in a similar case. The Tribunal, in line with the decisions of other benches, allowed the appeal of the assessee, emphasizing the retrospective application of the amendment in section 40(a)(ia) by the Finance Act, 2010. The High Court also confirmed this view, dismissing the appeal against the assessee.Issue 2: Restriction of disallowance on car expenses, car depreciation, and telephone charges at 10%:The assessee raised additional grounds challenging the CIT(A)'s decision to restrict the disallowance on car expenses, car depreciation, and telephone charges at 10%. The Tribunal confirmed the restriction on car expenses and telephone charges at 10% due to personal use but deleted the disallowance on depreciation as it cannot be solely attributed to personal use. Consequently, the appeal of the assessee was partly allowed on this issue.In conclusion, the appeal of the assessee was partly allowed, with the Tribunal ruling in favor of the assessee regarding the disallowance on account of delayed TDS payment and partially allowing the appeal concerning the restriction on certain expenses.
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