2021 (10) TMI 5

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....alf of the assessee. On the earlier two occasions also, i.e. 24th March, 2021 and 25th May, 2021, none appeared on behalf of the assessee seeking adjournments on the ground of inability to attend the proceedings on account of Covid Regulation and Lockdown. No application seeking adjournment was also filed before us during the course of hearing today, the appeal was therefore proceeded to be heard with ex parte. 3. We have perused the orders of the authorities below and find that this appeal has come up before us in the second round. It so transpires that the assessee, a Public Sector Bank, was subject to survey action u/s 133A of the Act to verify the compliance of TDS provisions. During the survey proceedings, complete books of accounts....

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....LS HAS ERRED IN LAW AND FACTS OF THE CASE WHILE NOT ALLOWING THE EXCESS TDS DEPOSITED FOR THE QUARTER ENDING 31ST MARCH 2014, WHICH WAS CONSIDERED TO BE SHORT DEDUCTED DURING THE PREVIOUS THREE QUARTERS. 2. THE LEARNED COMMISSIONER OF INCOME TAX APPEALS HAS ERRED IN LAW AND FACTS OF THE CASE WHILE REJECTING IMPLEMENTATION OF CIRCULAR NO. 03/2010 DATED 03.02.2010. 3. THE LEARNED COMMISSIONER OF INCOME TAX APPEALS HAS ERRED IN LAW AND FACTS OF THE CASE WHILE NOT CONSIDERING INTEREST PAID TO REGISTRAR OF HIGH COURT AND OTHER LEGAL AUTHORITIES (SUCH AS JUDGES OF COURTS, SESSION COURTS AND HIGH COURTS) TAKING THE PLEA THAT A CIRCULAR NO. 8 OF 2011 DATED 14.10.2011 WAS ISSUED TO DEAL WITH SUCH CASES, WHEREAS THE CIRCULAR WAS QUA....

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....lish that it is covered by circular 3/2010. By not deducting T.D.S. at the time of making a provision, the appellant has violated the explanation to section 194A of the Income tax Act. I therefore, hold that the order passed by the Assessing Officer treating the appellant as an assessee in default, u/s.201 r.w.s. 194A of the Income tax Act is correct and deserves to be sustained. The order is therefore, confirmed. However, the Assessing Officer is required to give credit for TDS deducted at the year end after verification of accounts. In this case, it is seen that the A.O. has already passed the rectification order dated 12.01.07 wherein the demand on account of short deduction has been reduced by Rs. 13,82,568/- by giving credit for TDS de....