2017 (5) TMI 1675

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....mi Ningshen, DR ORDER PER MAHAVIR SINGH, JM This appeal by the assessee is arising out of the orders of CIT(A)-56, Mumbai, in appeal No. CIT(A)-56/ADIT(IT)-1(2)/2014-15/262-D dated 28-03-2016. The Assessment was framed by ADIT (IT)-1(2), Mumbai for the A.Y. 2010-11 vide order dated 30-04-2014 u/s 144C (3) read with section of the Income Tax Act, 1961 (hereinafter 'the Act'). 2. The onl....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... and loss account noticed that the assessee has paid an amount of Rs. 73,923/- being interest on delayed payment of TDS and he require the assessee as to explained as to why the same should not be disallowed. The assessee claimed that the TDS relates to payment to various traders and the same is in connection and for the purpose of business. The AO noted that this amount is incurred on delayed pay....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e incurred in connection to this are in no way connected to preserving or promoting the business of the appellant. In view of the same, the appellant is not allowed to take the benefit of interest paid on delayed payment of TDS as an eligible expense." 4. We find that the facts are undisputed that the assessee has claimed interest as expense incurred for delayed payment of TDS. We find that thi....