2014 (1) TMI 1797

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.... G. S. Pannu (Accountant Member) This appeal by the Revenue is directed against an order of the Commissioner of Income Tax (Appeals)-II, Pune dated 31.08.2012 which, in turn, has arisen from an order dated 22.12.2011 passed by the Assessing Officer, u/s 143(3) of the Income-tax Act, 1961 (in short "the Act"), pertaining to the assessment year 2009-10. 2. In this appeal, the only grievance of....

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....e in terms of section 40(a)(ia) of the Act. The CIT(A) held that no disallowance u/s 40(a)(ia) of the Act is called for in the light of the amendment made by the Finance Act, 2010 which was to be understood as retrospective in operation following the decision of the Pune Bench of the Tribunal in the case of ITO vs. Shri Mata Tulsomal Premchand in ITA No.713/PN/2011 dated 21.06.2012 wherein the Tri....

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....arefully considered the rival submissions. Ostensibly, the provisions of section 40(a)(ia) have been invoked by the Assessing Officer to disallow an expenditure incurred during the year under consideration because as per the Assessing Officer, the corresponding TDS has not been deposited by the assessee before 31.03.2009 whereas the same was deposited on 20.04.2009. The plea of the assessee is tha....

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....h the judgment of the Hon'ble Calcutta High Court in the case of Virgin Creations (supra) wherein an identical controversy has been considered. As per the Hon'ble High Court, amendment made to section 40(a)(ia) of the Act by the Finance Act, 2010 is retrospective in operation and considered in the said light, in the present case assessee has deposited the TDS on or before the due date of filing of....