TaxTMI 
TaxTMI 
2022 (2) TMI 916
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....I.T.A. No. 13/16-17 for the above mentioned Assessment Year is contrary to law, facts, and in the circumstances of the case. 2. The CIT (Appeals) erred in confirming the validity of the reassessment completed u/s. 144 read with section 147 of the Act in para 6.2 of the impugned order without assigning proper reasons and justification. 3. The CIT (Appeals) failed to appreciate that the assumption of jurisdiction u/s. 147 of the Act for issuing reopening notice u/s. 147 of the Act dated 30.03.2015 after the initiation of the search operation u/s. 132 of the Act dated 6.3.2015 should be reckoned as bad in law and ought to have appreciated that after initiation of the search proceedings, the only course available for the Revenue to call bac....
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....come without assigning proper reasons and justification. 8. The CIT (Appeals) failed to appreciate that having not examined the components of the payments/interest to the account of M/s. Sea Bird Transport including the applicability of TDS provisions in relation thereto, the disallowance made invoking section 40(a)(ia) of the Act was wholly unjustified. 9. The CIT (Appeals) failed to appreciate that in any event having not examined the recipient assessment records in the context of the second proviso below section 40(a)(ia) of the Act, the sustenance of disallowance mechanically in paras 6.3, 6.4 & 6.5 of the impugned order was wrong, erroneous, unjustified, incorrect and not sustainable in law. 10. The CIT (Appeals) failed to apprec....
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....egal ground challenging validity of reassessment order passed u/s. 144 r.w.s. 147 of the Act, but the issue involved on merits in appeal filed by the assessee is disallowance of certain expenses u/s. 40(a)(ia) of the Act, and further, since the issue is covered by decision of the ITAT., Chennai, in the case of M/s. Mani Nagappa Motors Madurai P. Ltd. Vs. ITO in ITA No. 1612/Chny/2019 vide order dated 07.12.2021, he is willing to withdraw legal ground taken by the assessee challenging validity of assessment order, if the issue involved on merits is set aside to the Assessing Officer to give another opportunity to the assessee to demonstrate that payees had duly offered payments in their income-tax returns and paid due taxes thereon in terms ....
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....ssue to file of the Assessing Officer for verification of claim of the assessee that payees had duly offered payments in their income tax returns and paid due taxes thereon. The relevant findings of the Tribunal are as under:- "4. We find that similar-issue has been dealt with by the Tribunal in the cited decision as under:- 6. We have considered the rival contentions and perused the orders of the authorities below. Disallowance u/s. 40(a)(i) of the Act was fastened on the assessee for its failure to furnish Form 26A for the interest paid by it to M/s. Reliance Capital Ltd. As per the Id. Authorized Representative, assessee had addressed a letter, on 18.03.2016 to M/s. Reliance Capital Ltd. for getting Form 26A, but the said company had....
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....the assessee could demonstrate the fulfillment of these conditions and is ready to file the requisite certificate I declaration from the payee. Therefore, we deem it fit to restore the matter back to the file of AO on similar lines as above to provide an opportunity to the assessee to demonstrate fulfillment of these conditions by adducing requisite documentary evidences. The Ld. AO is directed to consider the same and grant the benefit of proviso to the assessee, if otherwise available and found in order. The assessee, in turn, is directed to substantiate its claim in accordance with law. No other arguments have been urged before us. 5. The appeal stand allowed for statistical purposes." 7. In this view of the matter and consistent with....