2017 (12) TMI 59

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....dv ORDER The petitioner, M/s Gaonkar Mines has challenged the impugned order passed by the respondent - Chief Commissioner of Income-tax (CCIT), Panjim, Goa, refusing to waive interest under Sections 234A, 234B and 234C of the Income-tax Act, 1961 (hereinafter referred to as the 'IT Act' for brevity). 2. Following reasons have been recorded by the said respondent in the impugned order of ....

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....ditor's Report. In view of the above, it cannot be said that the assessee could have anticipated the disallowance u/s 40(a)(ia) as liability to pay TDS had already arisen during the financial year itself and the same did not accrue as on the last day of the year. The charge of interest under section 234B and 234C consequent upon disallowance u/s 40(a)(ia), is therefore, automatic and mandatory in ....

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....Chief Commissioner/ Director General is satisfied, having regard to the facts and circumstances of the case, that the delay in furnishing such return of income cannot reasonably be attributed to the assessee. (b) Any income chargeable to income-tax under any head of income, other than Capital gains is received or accrued after due date of payment of the first or subsequent instalments of ....

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....itioner - assessee under Section 40(a)(ia) of the IT Act is concerned, the matter has been remanded back by the learned Income- Tax Tribunal to the Assessing Authority and therefore on merits of such disallowance made under the said Section 40(a)(ia) of the IT Act, it is still pending adjudication and therefore the petitioner should be deemed to have satisfied the conditions of Clause 2(b) of the ....