Date of payment of TDS on or after due date of filling return is not the ground to disallowe the deduction of the amount related to TDS

Last updated: 22 May 2012

Court :
INCOME TAX APPELLATE TRIBUNAL

Brief :
The revenue has raised the following grounds of appeal:- “1.That on the facts and in circumstances of the case the ld. CIT(A) erred in holding that once the profit is estimated after rejecting books of accounts, there is no scope for further disallowance of deduction, whereas the provisions of Section 40(a)(ia)is penal in nature and independently attracted even if income is estimated. 2. That the ld. CIT(A erred in estimating the profit from the business of the assessee relying on the rate of profit declared by the assessee without having any basis thereof.”

Citation :
I.T.O., Ward-4, Haldia (APPELLANT) Versus Sk.Mofizul Ali Purba Medinipur (PAN: ARPPS 1201 D) (RESPONDENT)

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CS Bijoy

Published in Income Tax
Views : 1989

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Date of payment of TDS on or after due date of filling return is not the ground to disallowe the deduction of the amount related to TDS

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