2015 (10) TMI 1413

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.... This is an appeal filed by the assessee against the order of the Commissioner of Income-Tax (Appeals)-II, Surat dated 17.9.2008. 2. This appeal was disposed of by the Tribunal vide order dated 5.10.2012 passed in ITA No.3826/Ahd/2008 in Asstt.Year 2005-06. The Tribunal restricted the disallowance to Rs. 4,85,252/- being the amount payable as on 31.3.2005 in place of Rs. 50,27,336/- sustained ....

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....re, the AO disallowed the deduction for the expenditure of Rs. 78,37,140/- by invoking the provision of section 40(a)(ia) of the Act. 4. On appeal, the CIT(A) restricted the disallowance to Rs. 50,27,336/- on the basis of the details filed by the assessee after reducing the amounts being less than Rs. 20,000/- prior to 1.10.2004 and Rs. 50,000/- after 1.10.2004. 5. The DR relied on the order....

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....by the Finance Act, 2012 w.e.f. 1.4.2013 reads as under: "[Provided further that where an assessee fails to deduct the whole or any part of the tax in accordance with the provisions of Chapter XVII-B on any such sum but is not deemed to be an assessee in default under the first proviso to sub-section (1) of section 201, then, for the purpose of this sub-clause, it shall be deemed that the asses....