2016 (2) TMI 120

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ear 2004-05. 2. Sole issue raised by assessee in this appeal is that Ld. CIT(A) has erred in confirming the addition of Rs. 28,30,098/- on account of Tax Deducted at Source (TDS) certificate issued and claimed by assessee. During the assessment proceedings, Assessing Officer asked the assessee to submit the list of receipts as per TDS certificate in comparison to the receipt as per accounts and same is furnished below:- Name of deductor Total TDS deducted Total T.O. as per TDS certificate Corresponding T.O as per accounts Difference, if any ADMAAC (South, West) 86,558/- 8,65,578/- - - 8,65,578/- PNB, Kolkata 2,47,610/- 12,07,852/- - 10,32,510/- 1,75,342/- SBI, Howrah 1,14,417/- 11,44,163/- - - - 11,44,163/- -do- 1,20....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....already offered for taxation in the earlier year is an after-thought and it is unsubstantiated and fresh explanation which is unacceptable." Being aggrieved by this order of Ld. CIT(A) assessee preferred second appeal before us on the following ground:- "1) That the Commissioner of Income Tax (Appeals)-XIV has erred, both on facts and circumstances of the case in confirming addition of Rs. 28,30,098/- as made by A.C.I.T. on basis of TDs certificates issued and claim made by assessee on basis of system of accounting of interest income being consistently followed by the assessee Company." 4. We have heard both the parties and perused the materials available on record. Before us Ld. AR submitted paper book running pages from 1 to 34 and ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ual basis. However, the PNB paid interest on the fixed deposit in AY 2004-05 on the basis of cash accounting system, so the TDS was deducted in the AY 2004-05. In support of his claim the ld. AR has produced interest certificate for an amount of Rs. 175342.00 from the PNB clarifying that this is the interest pertaining to the financial year 2000-2001 which is placed at page 23 of the paper book. The ld. AR claims that the assessee has offered such income for taxation in the assessment year 2001-02 and in support of his claim the assessee has submitted audited interest income schedule along with the breakup of the interest which are placed on page 10 and 11 of the paper book. As regards, two TDS certificates issued from SBI, Howrah for an a....