TaxTMI 
TaxTMI 
2018 (6) TMI 890
X X X X Extracts X X X X
X X X X Extracts X X X X
....er referred to as 'the Act') vide his order dated 30.05.2008 for assessment year 2004-05. Shri Manoj Kataruka, Ld. Advocate appeared on behalf of assessee and Shri S. Dasgupta, Ld. Departmental Representative appeared on behalf of Revenue. 2. The assessee has taken the following grounds:- "1) that on the facts and circumstances of the case the Ld. CIT(A) has erred in confirming the order of the Assessing Officer u/s. 201(1)/201(1A) of the Income Tax Act, 1961 2) that on the facts and circumstances of the case the Ld. CIT(A) has erred in confirming the payment of interest of Rs. 9,58,748/- and Rs. 2,65,901/- to different companies, while both are payments to individuals of which on Rs. 9,58,708/- they submitted Form 1....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ee is in the present case is a limited company and engaged in trading business of securities. During the year, AO observed that assessee has incurred interest expenses of Rs.9,58,708 and Rs.2,65,901/- which was paid to different companies without deducting TDS u/s 194I of the Act. On question for none deduction of TDS u/s 194-A of the Act. On question for non deduction of TDS on the interest expenses, assessee failed to make any reply. Therefore, AO treated the assessee in default on account of non-deduction of TDS u/s. 201(1)/201(1A) of the Act and made the disallowance of Rs.2,51,044/- being TDS amount on Interest expense of Rs. 12,24,609.00 under section 201(1) of the Act along with the amount of interest for Rs.1,25,522/- under section ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....regarding filing of 20 sets of Form 15G could not be claimed." In view of above, remand report, Ld. CIT(A) confirmed the order of AO by observing as under:- "10. In view of the above records being not traceable a discussed above, the time to which the matters relate being far too away in the past and failure on the part of the appellant to comply to the AO's requisition the appellant's plea of use of wrong address by the AO cannot be accepted. No reasonable cause seems to exist for the appellant's inability to respond to the Assessing Officer's requisition in the course of working liability u/s. 201(1)/(1A). Additional evidences filed cannot therefore be admitted. Therefore, there does not appear to be any reasonable cau....
X X X X Extracts X X X X
X X X X Extracts X X X X
....en deducted by AO @ 20% whereas per the provision of Section 194-A TDS required to be deducted @ 10% only. On the other hand, Ld. DR vehemently relied on the order of Authorities Below. 8. We have heard the rival contentions of both the parties and perused the material available on record. In the present case, the demand was raised for the amount of TDS which assessee failed to deduct from the payment of interest u/s.194- A of the Act. Accordingly, AO was charged interest u/s 201(1)/201(1A) of the Act along with the amount of TDS. The view taken by AO was subsequently confirmed by Ld. CIT(A). Now the limited issue before us arises for adjudication so as to whether the assessee has filed Form 15G before Ld. CIT. in the given facts a....