2012 (6) TMI 296

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....ospectives w.e.f. 01.04.2005. 2. The appellant craves for reserving the right to amend, modify, alter, add or forego any ground(s) of appeal at any time before or during the hearing of appeal. " 2. Facts, in brief, as per relevant orders are that return declaring income of `Rs. 12,75,862/- on a/c of short term capital gains and nil business income filed on 30.09.2008 by the assessee, after being processed u/s 143(1) of the Income-tax Act, 1961 (hereinafter referred to as the Act), was taken up for scrutiny with the service of a notice u/s 143(2) of the Act issued on 15.09.2009. During the course of assessment proceedings, the Assessing Officer (A.O. in short) noticed that the assessee deposited TDS of Rs. 1,59,332/- deducted from an a....

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.... have heard both the parties and gone through the facts of the case. Indisputably, the assessee deposited TDS deducted from an amount of `Rs. 16,22,846/- on 11.4.2008 i.e. before the due date of filing of return. The issue before us in this case is as to whether amendment made to the provisions of section 40a(ia) of the Act by the Finance Act,2010, would apply with retrospective effect from 1.4.2005 or w.e.f 1.4.2010. We find that various coordinate Benches of the ITAT in their decision dated 16.12.2010 in Kulwant Singh vs. ITO in ITA no.2191/Ahd./2008 for the AY 2005-06, decision dated 22.9.2010 is in the case of Bansal Parivahan (India) P Ltd. vs. ITO in ITA no.2355/Mum/2010 for the AY 2006-07and the decision dated 3.12.2010 in the case o....