2022 (4) TMI 897

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....2012-13. Before us the assessee has assailed the impugned order on the following grounds of appeal: "1. The order passed by the learned AO and confirmed by Honourable CIT(A) is incorrect, bad in law and without natural justice. 2. The addition made of Rs. 2,41,749/- levied on appellant is incorrect, bad in law and without justice and the same is to be deleted. 3. The computation of income is to be corrected as per carried forwarded losses to NIL. 4. Appellant craves a right to add, modify, alter or withdraw and of the ground/s of appeal during the course of hearing." 2. At the very outset of the hearing of the appeal, it was submitted by the Ld. Authorized Representative (for short 'AR') for th....

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....f the Act. 4. Observing, that the assessee had paid interest of Rs. 2,41,749/- to M/s. Tata Motors Finance Ltd. without deducting tax at source on the said amount, the Assessing Officer disallowed the same u/s. 40(a)(ia) of the Act. 5. Aggrieved, the assessee assailed the assessment order before the CIT(Appeals), but without any success. 6. The assessee being aggrieved with the order of the CIT(Appeals) has carried the matter in appeal before us. 7. At the very outset of the hearing of the appeal, it was submitted by the Ld. AR that as the payee, viz. Tata Motors Finance Ltd., had taken into account the aforesaid interest charges of Rs. 2,41,749/- (supra) in its return of income for the year under consideration i.e. A.Y. 2012-13....

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....39;additional evidence', we find that as the certificate in the prescribed Form-26A, dated 03.05.2017 filed by the assessee before us goes to the very genesis of the controversy involved in the present appeal, therefore, in all fairness we admit the same. 10. We have heard the Ld. Authorized Representatives of both the parties, perused the orders of the lower authorities and the material available on record. Admittedly, it is a matter of fact borne from the record that the assessee had failed to deduct tax at source on the amount of interest of Rs. 2,41,749/- (supra) that was paid by it to M/s. Tata Motors Finance Ltd. However, as the aforesaid payee, viz. Tata Motors Finance Ltd. had duly taken into account the aforementioned amount....