2025 (2) TMI 1679

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.... The assessee has raised the following grounds of appeal: "1. In the facts and circumstances of the case, Hon'ble Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi ('CIT(A)') erred in passing the Appeal Order under Section 250 of the Income Tax Act, 1961 ('the Act') upholding the disallowance of expenditure of Rs. 4,69,61,421/- made by the Learned Assessing officer. 2. Hon'ble CIT(A) erred in law by not appreciating that the amendment introduced by the Finance Act, 2010, relevant to the issue under appeal is clarificatory in nature and fully applicable to the appellant. 3. The Consequential interest levied/ recovered under Section 234B, 234D & 244A may please be d....

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....as reopened and notice u/s 148 was issued on 31.03.2016. It was noticed that the assessee had deducted tax on certain payments during the previous year but failed to deposit the same on or before the last day of the previous year as required u/s 40(a)(ia) of the Act. The assessee submitted that TDS was deposited before the due date of filing of return of income u/s 139(1). The details of TDS deducted out of labour charges paid to the sub-contractor amounting to Rs. 4,69,61,421/- are as under: Sr. No. Amount paid Date of payment TDS amount Date on which Tax was deposited 1 28,53,163 12.06.2008 32,236 16.04.2009 2. 2,65,80,000 15.06.2008 3,01,151 15.07.2009 3. 1,75,28,258 01.01.2009 1,9....

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....ta v/s Calcutta Export Company (2018) 93 taxmann.com 51 (SC) wherein it has been held as under: "30. Hence, in light of the forgoing discussion and the binding effect of the judgment given in Allied Moters (P.) Ltd. case (supra), we are of the view that the amended provision of Sec 40(a)(ia) of the IT Act should be interpreted liberally and equitable and applies retrospectively from the date when Section 40(a)(ia) was inserted i.e., with effect from the Assessment Year 2005-2006 so that an assessee should not suffer unintended and deleterious consequences beyond what the object and purpose of the provision mandates. As the developments with regard to the Section recorded above shows that the amendment was curative in nature, it sho....