Delhi HC condones assessee
company’s delay in filing application u/s. 119(2)(b) seeking refund of TDS
amount for AY 2013-14; Takes note of assessee’s submission that its Chartered
Accountant / auditor had inadvertently overlooked the TDS amount while filing
the return, holds assessee’s reasons as being ‘bonafide’; On Revenue’s
stand that the auditor’s omission was not substantiated, HC remarks that, “This
court has difficulty to understand what more plea or proof any assessee could
have brought on record, to substantiate the inadvertence of its advisor.”;
Noting that the assessee did not urge any other grounds such as illness of
someone etc., which could have reasonably been substantiated by independent
material, HC remarks that, “there cannot necessarily be independent proof or
material to establish that the auditor in fact acted without diligence.”;
Moreover, HC observes that the amount was reflected on the TDS portal of IT
Dept. at the relevant time, thus permits assessee to make refund claim and
directs AO to remit the amount due within three weeks time after due verification,
cites co-ordinate bench ruling in Indglonal Investment & Finance Ltd.:HC
Subscribe to:
Post Comments (Atom)
CIT(A) cannot direct reopening of years not under appea
Recently, the Hon’ble Income-tax Appellate Tribunal, Chennai (‘ITAT’) in the case of Mr. Chandanmal Nagaraj v. Assistant Commissioner of I...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
Recent judicial pronouncements across different forums have clarified several important aspects of Indian income tax law, particularly relat...
-
An eminent concern within the GST framework pertains to the entitlement of Input Tax Credit (ITC) concerning expenditures associated with In...
-
The transition to the Income-tax Act, 2025 (ITA 2025) and the accompanying Income-tax Rules, 2026 introduces a significantly overhauled co...
-
Introduction Employee welfare is a cornerstone of corporate responsibility, and gratuity forms a critical part of the social security benefi...
-
The overall effective tax rate of a U.S. multinational corporation may have significant impact on the value of its stock. Therefore, it ...
-
Introduction: India's Green Economy and the Tax Conundrum India stands as a global powerhouse in the fight against climate change, c...
-
In a landmark ruling, the ITAT, Hyderabad Bench, in the case of Amith Vishnaw Gudimela, held that a delay in filing Form-67 cannot be the so...
-
Clarifications from the GST Council The GST Council has recommended the following clarifications on ISD and cross charge:
-
The Delhi High Court held that interest earned on funds temporarily parked in bank deposits during the project setup phase is capital in n...
No comments:
Post a Comment