https://www.taxtmi.com/caselaws?id=761640 ITAT Lucknow ruled in favor of the assessee regarding TDS addition under section 40(a)(ia) for failure to submit Forms 15G/15H to the Commissioner. The tribunal held that while the assessee collected valid forms from depositors, the failure to deposit them with CIT was merely a technical breach. Without examining the forms' correctness, the AO's conclusion was unwarranted. Following precedent from Karur Vysya Bank case, the tribunal directed the AO to verify the forms' correctness and grant relief under section 197A if found valid. The matter was restored to the AO for proper verification. Appeal allowed for statistical purposes. en-us Mon, 30 Sep 2024 00:00:00 +0530 Thu, 14 Nov 2024 08:26:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761640 ITAT Lucknow ruled in favor of the assessee regarding TDS addition under section 40(a)(ia) for failure to submit Forms 15G/15H to the Commissioner. The tribunal held that while the assessee collected valid forms from depositors, the failure to deposit them with CIT was merely a technical breach. Without examining the forms' correctness, the AO's conclusion was unwarranted. Following precedent from Karur Vysya Bank case, the tribunal directed the AO to verify the forms' correctness and grant relief under section 197A if found valid. The matter was restored to the AO for proper verification. Appeal allowed for statistical purposes. Case-Laws Income Tax Mon, 30 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761640