TaxTMI 
TaxTMI 
2018 (1) TMI 1295
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....,580/-. The Assessing Officer has completed the assessment under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as 'Act') by accepting the income returned. 3. Subsequently, by virtue of powers vested with section 263 of the Act, the Pr. Commissioner has called and examined the records of the assessee for the Assessment Year 2012-13, and it is noticed from the profit & loss account that the assessee firm has claimed an amount of Rs. 3,88,170/- towards interest paid to the unsecured loan creditors, but no TDS under section 194A was deducted on the said payments. Therefore, Assessing Officer without examining the issue properly, assessment order passed, has to be considered as erroneous and so far as it is prejudi....
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....tax, Guntur. We are herewith enclosing proof of submission of forms 15H & 15G on 9 April, 2012 before the Commissioner of Income-tax, Guntur. Considering this we request your goodself to kindly drop further proceedings in this regard." 4. The Pr. Commissioner after considering the above reply given by the assessee observed that though, assessee stated that he has obtained Forms No. 15G/15H from all the payees and filed them before the Commissioner and copies of the same were enclosed to his letter, on a perusal of them, it is observed that the assessee has taken Form Nos. 15G/15H in eight cases on 07/04/2012 for the loan taken or withdrawal made during the year relevant to the assessment year 2012-13, which is after the due date i.e. 1....
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.... TDS under section 194A on the payments made to the eight payees on account of filing of Forms No. 15G/15H before the ld. Pr. Commissioner on 07/04/2012. 10. In this case, the assessee has made interest payments to eight parties and all the eight parties have submitted Forms No. 15G/15H to the assessee. The assessee has filed the same before the Pr. Commissioner on 09/04/2012 and were also submitted before the Assessing Officer during the course of assessment proceedings and the Assessing Officer passed the assessment order under section 143(3), dated 25/02/2015. The same factual position is explained by the assessee before the Pr. Commissioner in response to the notice issued under section 263 of the Act. This fact is not disputed by the ....
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....5H filed by recipient-Recipient of interest amount informed assessee that she would file Form 15H- Accordingly, at time of credit, tax was not deducted-Subsequently Form 15H was filed on 10.04.2011, before due date for depositing amount in Government account-When recipient filed Form 15H, there was no liability on part of the assessee to deduct tax- Admittedly, tax was not deducted at time of credit-However, before due date for filing return of income, recipient filed Form 15H- Therefore, on date of filing of return of income, tax was not deductible on amount paid to recipient since Form 15H was filed-When there was no requirement for deduction of tax in view of filing of Form 15H by recipient on 10.04.2011, this Tribunal was of considered ....