Tuesday, 5 February 2019

HC : Condones delay in seeking TDS refund; Accepts plea of 'inadvertent omission’ by CA

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 

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CBDT issues second round of frequently asked questions in relation to Direct Tax Vivad Se Vishwas Scheme, 2024

  This Tax Alert summarizes Circular No. 19/2024 dated 16 December 2024 (VSV 2- December Circular) issued by the Central Board of Direct Tax...