TaxTMI 
TaxTMI 
2025 (2) TMI 1807
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....hat the scrutiny assessment order of the assessee for the assessment year 2012-13 had been passed u/s 143(3) of the Act on 31.03.2015 by erstwhile DCIT, Circle-3(1), Siliguri by making the following additions: i) Disallowance u/s 40a(ia) for non-deduction of TDS Rs. 1,08,42,694/-. ii) Difference of interest paid Rs. 1,42,337/- iii) Unexplained cash credit u/s 68 of the act Rs. 1,04,55,206/- iv) Income from other source read with Section 68 of the Act Rs. 89,55,000/- v) Unexplained money receipt from M/s Darjeeling Cement Pvt. Ltd. Siliguri Rs. 69,95,500/- vi) Addition of share application money with high premium Rs. 78,00,000/- vii) Interest on penalty Rs. 13,711/- viii....
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.... in Form no. 26A was not there. Being aggrieved and dissatisfied the present appeal has been preferred by the assessee. 5. The Ld. Counsel for the assessee challenges the impugned order on the following grounds: 1. For that on the facts and circumstances and legal position of the case, the order u/s 250 passed by the Hon'ble CIT(A) is against the principle of natural justice. 2. For that on the facts and circumstances and legal position of the case, the Ld. AO has failed to appreciate the facts that the recipients of interests from the assessee had duly offered the same as their incomes in their returns. The Ld. CIT(A) ought to have appreciated the said facts by allowing the appeal. 3. For that on the facts ....
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....n the present case, the assessee has made payment to M/s Ajmer Vidyut Vitran Nigam Ltd., which is a State Government Undertaking. Taking into consideration the judicial decisions as cited above, we set aside the impugned order of Ld. CIT(A) and remand this issue back to AO and the AO is directed to verify the fact regarding the fulfillment of condition as stated in para 3 (supra) by the recipient payee and if the AO finds that the recipient / payee has included the amount in its total income in its return of income and paid taxes thereon, then the disallowance made by the AO by invoking the provisions of Section 40a(ia) of the Act be deleted. Thus, we confirm the order of Ld. CIT(A) and dismiss these grounds of appeal of revenue. For the af....
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....1962 had been inserted by the Income Tax Rules, 2012 w.e.f 12.09.2012 for AY 2013-14. We further find that Hon'ble ITAT in its order passed in ITA No. 1034/Kol/2015 had made it clear that if the recipient / payee had included an amount in its total income and paid taxes thereon then the disallowance made by the AO by making the provision of Section 40a(ia) of the Act should be deleted. It is further important to mention herein that the form issued by NBFC loan creditors were produced before the AO for due examination but the AO had simply confirmed by the assessee on the plea that the assessee did not produce the certificate in Form 26A as per Rule 31ACB of Income Tax Rules, 1962. We have also gone through the following judgment which are a....
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....in this Form cannot result in assessee being held liable u/s 201. The Hon'ble Tribunal has held that if the assessee furnishes confirmation from the recipient of income to the effect that they have included the incomes received from assessee in their respective returns, assessee ought to be allowed benefit of decision of Supreme Court in the case of Hindustan Coca Cola Beverages Pvt. Ltd. In Datacrop Traffic Pvt. Ltd. vs. ACIT, ITA No. 502/Bang/2022, dated 20.7.20222 (Asst year 2019-20), a sum of Rs. 3,48,000/- was disallowed by invoking the provisions of section 40(a)(ia) of the IT Act, since the assessee has not deducted tax at source on some payments made by it. The assessee submitted before the CIT(A)that income has already....