https://www.taxtmi.com/caselaws?id=756980 ITAT DELHI dismissed revenue's appeals regarding TDS liability under section 201(1) on provisions made in books of accounts. The assessee created provisions on accrual basis which were reversed in subsequent year when actual invoices were booked and TDS compliance was completed. Following IBM India precedent, CIT(A) held that once TDS is deducted in subsequent year, section 201(1) demand cannot be raised. Interest under section 201(1A) can only be charged until deduction date. TDS provisions don't apply where transactions are reversed/cancelled or parties unknown. CIT(A)'s relief to assessee was upheld. en-us Fri, 09 Aug 2024 00:00:00 +0530 Mon, 12 Aug 2024 21:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756980 ITAT DELHI dismissed revenue's appeals regarding TDS liability under section 201(1) on provisions made in books of accounts. The assessee created provisions on accrual basis which were reversed in subsequent year when actual invoices were booked and TDS compliance was completed. Following IBM India precedent, CIT(A) held that once TDS is deducted in subsequent year, section 201(1) demand cannot be raised. Interest under section 201(1A) can only be charged until deduction date. TDS provisions don't apply where transactions are reversed/cancelled or parties unknown. CIT(A)'s relief to assessee was upheld. Case-Laws Income Tax Fri, 09 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756980