2016 (12) TMI 948

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.... section 40(a)(ia) of the Income Tax Act, 1961 ["Act" in short]. 2. Brief facts of the case are that the assessee is an individual, engaged in the business of textiles trading and filed her return of income for the assessment year 2012-13 on 23.09.2012 declaring total income of Rs. .2,16,970/-. The return filed by the assessee was processed under section 143(1) of the Act. Thereafter, the case of the assessee was selected for scrutiny and notice under section 143(2) of the Act was issued and served on the assessee on 12.08.2013. Further, notice under section 142(1) of the Act dated 06.06.2014 was issue calling for details. In response thereto, the assessee filed all the details. After verification of the bank statement, details of unsecure....

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....by the ld. CIT(A) should be deleted. 5. On the other hand, the ld. DR supported the orders of authorities below. 6. We have heard both sides, perused the materials available on record and gone through the orders of authorities below. In the assessment order, the Assessing Officer has noticed that the assessee has not deducted TDS on the interest payments to the loan creditors. By filing a written explanation, the assessee has submitted that against the payment of interest to the loan creditors, Form No. 15G and 15H were obtained and therefore, such payments were not covered under section 40(a)(ia) of the Act and thus, no TDS was made. However, the Assessing Officer has observed that, if at all the Form No. 15G/15H were obtained, they were....