2016 (1) TMI 754

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....it Kochar, Accountant Member This appeal, filed by the Revenue, being ITA No. 4236/Mum/2014, is directed against the order dated 20-12-2013 passed by the learned Commissioner of Income Tax (Appeals)- 10, Mumbai (Hereinafter called "the CIT(A)"), for the assessment year 2004-05. 2. The only issue arise in this appeal is regarding the grant of interest by the learned assessing officer (Hereina....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....04-2004 in the instant appeal as per Section 244A of the Act notwithstanding the fact that the assessee company has duly claimed the afore-stated credit of the TDS in the return of income filed with the Revenue. The order u/s 154 of the Act was passed by the AO on 18-4-2011 which was challenged by the assessee company before the CIT(A) who accepted the contentions and the claim of the assessee com....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... "Though the TDS certificates were not submitted with the return and were filed during the course of the assessment proceedings, the Tribunal has noted that the tax was in fact deducted at source at the right time. In the circumstances, the Tribunal is correct in holding that since the benefit of TDS has been allowed to the assessee, interest under Section 244A could not be denied only on the gro....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Ltd. (supra) has categorically held that the assesse is entitled to interest on TDS due to the assessee even if the TDS certificates have been filed late if the tax was deducted and deposited with the exchequer in time, the interest has to be granted to the assessee from 1st day of assessment year in accordance with Section 244A of the Act and not from the date of filing of TDS certificates with ....