2023 (3) TMI 1344

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....ika Nath and Itishree Jena, Interns of The Law College, Cuttack For the Revenue : Shri S.C.Mohanty, Sr. DR assisted by Shri Shreerang Singh Deo, Intern of The Law College, Cuttack ORDER Per Bench : This is an appeal filed by the assessee against the order of the ld. CIT(A)-II, Bhubaneswar, dated 25.10.2012, passed in I.T.Appeal No.0148/09-10 for the assessment year 2007-2008. 2. This a....

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....was submitted by the ld. AR that the main issue is the disallowance of the ocean freight, survey expenses, testing charges and legal charges in respect of which TDS has not been deducted. It was submitted that as TDS had not been deducted, the AO had invoked the provisions of Section 40(a)(ia) of the Act to bring to tax 100% of the said disallowance as the income of the assessee. It was the submis....

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....supra, the coordinate bench of the Tribunal vide order dated 14.11.2022 in paras 6 & 7, restricted the disallowance to 30% as against 100%. The relevant observations of the Tribunal as under :- 6. We have heard the rival submissions. In respect of the amendments which have brought into by the various Finance Act, wherein the amendment is brought in to remove the hardship caused to the ass....

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....rt (Constituted by the Five Hon'ble Judges) in the case of Vatika Township (P.) Ltd. [2014] 49 taxmann.com 249 (SC), the AO is directed to restrict the disallowance u/s.40(a)(ia) of the Act to 30%. 7. Though it has been argued by the ld. Sr. DR that at the time of hearing of miscellaneous application, the Bench was convinced that the said amendment was not retrospective and for that purpo....