TaxTMI 
TaxTMI 
2007 (6) TMI 141
X X X X Extracts X X X X
X X X X Extracts X X X X
....al was justified in holding in effect that the levy of interest under Section 201 (1A) was not subject to any limitation ?" 2. The facts leading to the above substantial question of law are as under : 3. The assessee is a Private Limited Company. The relevant assessment year is 1985-86 and the corresponding accounting year ended on 31.03.1985. The Return of income was filed on 25.10.1985 claiming a loss of Rs.59,15,418/-. The assessment was completed under Section 143(3) of the Income-tax Act ("Act" in short) determining the total income at Rs.18,93,880/- after making various additions and disallowances. Aggrieved by the order, the assessee filed an appeal to the Commissioner of Income-tax (Appeals). The C.I.....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Aggrieved by the order, the assessee filed an appeal to the Commissioner of Income-tax (Appeals). The C.I.T.(A) allowed the appeal partly and confirmed the amounts relating to TDS on interest and salary and the interest thereon, while accepting the assessee's contentions regarding cone winding charges and allowed the appeal. Aggrieved, the assessee filed an appeal to the Income-tax Appellate Tribunal ("Tribunal" in short) contending the inability of furnishing the details after a long lapse of time could not be equated to a finding that there was default on the part of the assessee warranting levy of interest u/s.201(1A) of the Act. The Tribunal dismissed the appeal and confirmed the order of the lower authorities. ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....hence, the same should be disregarded. 6. Heard the counsel. It is not in dispute that the evidence which is now produced was not filed before any of the authorities below, by the assessee. But the fact remains that the Tax Deducted at Source was paid by the assessee. Due to strike and other reasons, the said details were not produced before the authorities. Later the assessee found out the details and filed a petition dated 21.10.1999 before the Joint Commissioner of Income-tax, Salem stating the details regarding payments of tax deducted at source, which are as under : Date Particulars (Rs.) 21.05.93 Challan-Salem, Srirangapalayam, SBI 25,000.00 17.05.93 Erode, Indian Bank, DD.335383 &nb....