2015 (10) TMI 1875

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....sessment year 2011-2012 - whereby she upheld substantially the orders passed by the Assessing Officer under S.201(1)/201(1A) of the Income Tax Act,1961, treating the assessee as default for its failure to deduct tax at source from the various payments and also imposing interest thereon. 2. The assessee in the present case is a company, which is engaged in the business of execution of civil contracts. In order to verify the compliance of TDS provisions by the assessee, a survey under S.133A was carried out in its case on 9.10.2009. As found during the course of survey, the assessee had taken loans for the purchase of machinery and vehicles under hire purchase agreements from various companies, and no tax was deducted from the interest pai....

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....ering the submissions made by the assessee as well as the material available on record, including the remand report received from the Assessing Officer, the learned CIT(A) upheld the orders passed by the Assessing Officer under S.201(1) treating the assessee as in default for its failure to deduct tax at source from the payment of interest as required by the provisions of S.194A, except to the extent such interest was paid to some parties who had obtained exemption under S.197(1) of the Act. She also by and large upheld the orders of the Assessing Officer passed under S.201(1) treating the assessee as in default for its failure to deduct tax at source as required by the provisions of S.194C, 194H, 194I and 194J. The action of the Assessing ....