2015 (11) TMI 1363

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....Sh. Bishwajeet Bhattacharya, Adv, Sh. Jeetan Nagpal, CA ORDER  PER O.P.KANT, A.M. This appeal of the Revenue is directed against the order of the learned Commissioner of Income-Tax (Appeals)-I, Dehradun dated 31.05.2013 in respect of assessment year 2007-08. The Revenue has raised following grounds:-  "1. The CIT(A) has erred in law and on facts in holding the order of the AO....

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....ank and a verification of Tax Deducted at Source (TDS) was carried out by the "Income-tax Department" on 19/02/2013 on the branch of the assessee bank located at Tel Bhawan, Dehradun. During verification it was observed that the "Oil and Natural Gas Corporation Ltd." (in short "ONGC") was maintaining an account called Site Restoration Account (SRA) with the assessee. The learned Assessing Officer ....

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...., however, did not accept the contention of the assessee and held the assessee to be in default in deducting of tax and raised demand u/s 201 and interest u/s 201(1A) of the Act. Against the said order of the ld. AO, the assessee filed appeal before the learned Commissioner of Income-tax (appeals) [in short „CIT(A)‟], who, then held that as per clause (i) of provisions of section 201(3....

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.... above appeal, the coordinate bench in para 17.11 of the decision, has held that Site Restoration Account deposit is not a term deposit for a fixed period and therefore in view of clause (vii) to section 194A(3) , the provision of section 194A are not attracted. A copy of the said order was also provided to the learned Commissioner (Department Representative) [in short „CIT(DR)], who was dir....